v3.25.2
Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2025
Stockholders' Equity Note [Abstract]  
Schedule of Stock-Based Compensation Expense

Stock-based compensation expense related to Cardiff Oncology equity awards have been recognized in operating results as follows:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(in thousands)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Included in research and development expense

 

$

672

 

 

$

397

 

 

$

1,187

 

 

$

786

 

Included in selling, general and administrative
   expense

 

 

1,011

 

 

 

782

 

 

 

1,861

 

 

 

1,517

 

Total stock-based compensation expense

 

$

1,683

 

 

$

1,179

 

 

$

3,048

 

 

$

2,303

 

Schedule of Assumptions to Estimate Fair Value of Stock Option Awards

The estimated fair value of stock option awards was determined on the date of grant using the Black-Scholes option valuation model with the following weighted-average assumptions during the following periods indicated:

 

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

Risk-free interest rate

 

 

4.06

%

 

 

4.06

%

Dividend yield

 

 

0

%

 

 

0

%

Expected volatility of Cardiff Oncology common stock

 

 

106

%

 

 

106

%

Expected term

 

6.2 years

 

 

5.8 years

 

Summary of Stock Option Activity and of Changes in Stock Options Outstanding

A summary of stock option activity and changes in stock options outstanding is presented below:

 

 

 

Total Options

 

 

Weighted-Average
Exercise Price
Per Share

 

 

Intrinsic
Value

 

Balance outstanding, December 31, 2024

 

 

8,334,765

 

 

$

3.88

 

 

$

11,668,989

 

Granted

 

 

3,368,632

 

 

$

3.59

 

 

 

 

Exercised

 

 

(1,672

)

 

$

1.72

 

 

 

 

Forfeited and expired

 

 

(293

)

 

$

600.39

 

 

 

 

Balance outstanding, June 30, 2025

 

 

11,701,432

 

 

$

3.78

 

 

$

4,762,925

 

Exercisable at June 30, 2025

 

 

6,031,484

 

 

$

4.25

 

 

$

3,392,492

 

Vested and expected to vest at June 30, 2025

 

 

11,421,239

 

 

$

3.80

 

 

$

4,669,472

 

Summary of Warrant Activity and Changes in Warrants Outstanding

A summary of warrant activity and changes in warrants outstanding, classified as equity is presented below:

 

 

 

Total Warrants

 

 

Weighted-Average Exercise Price Per Share

 

 

Weighted-Average Remaining Contractual Term

Balance outstanding, December 31, 2024

 

 

2,807,353

 

 

$

2.40

 

 

0.9 years

Expired

 

 

(19,639

)

 

$

2.27

 

 

 

Balance outstanding, June 30, 2025

 

 

2,787,714

 

 

$

2.40

 

 

0.5 years