v3.26.1
Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2026
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)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Included in research and development expense

 

$

470

 

 

$

672

 

 

$

788

 

 

$

1,187

 

Included in selling, general and administrative expense

 

 

450

 

 

 

1,011

 

 

 

1,792

 

 

 

1,861

 

Total stock-based compensation expense

 

$

920

 

 

$

1,683

 

 

$

2,580

 

 

$

3,048

 

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 assumptions during the following periods indicated:

 

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

Risk-free interest rate

 

3.67% - 4.15%

 

 

3.88% - 4.11%

 

Dividend yield

 

 

0

%

 

 

0

%

Expected volatility

 

96% - 102%

 

 

104% - 106%

 

Expected term (in years)

 

5.1 - 5.9

 

 

6.1 - 6.3

 

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, 2025

 

 

10,757,293

 

 

$

3.87

 

 

$

2,678,115

 

Granted

 

 

2,961,459

 

 

$

1.62

 

 

 

 

Exercised

 

 

(64,761

)

 

$

1.63

 

 

 

 

Forfeited

 

 

(1,513,962

)

 

$

3.32

 

 

 

 

Expired

 

 

(351,494

)

 

$

7.17

 

 

 

 

Balance outstanding, June 30, 2026

 

 

11,788,535

 

 

$

3.29

 

 

$

14,239

 

Exercisable at June 30, 2026

 

 

7,468,715

 

 

$

3.86

 

 

$

14,239

 

Vested and expected to vest at June 30, 2026

 

 

11,412,387

 

 

$

3.33

 

 

$

14,239

 

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, 2025

 

 

432

 

 

$

348.48

 

 

0.6 years

Balance outstanding, June 30, 2026

 

 

432

 

 

$

348.48

 

 

0.1 years