Business Combination (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Schedule of Summarizes the Purchase Price in the Merger

The following summarizes the purchase price in the Merger (in thousands, except share and per share amounts):

Fair value of common stock shares of the combined company    owned by resTORbio stockholders (1)	$	84,142
Fair value of contingent consideration liability with respect to CVR (2)		2,880
Purchase price	$	87,022

Schedule of Estimated Share Consideration of Combined Company

(1)Represents the share consideration of the combined company that the resTORbio stockholders own as of the closing of the Merger calculated as follows:

Number of shares of the combined company owned by resTORbio    stockholders (a)		5,207,695
Multiplied by the fair value per share of resTORbio common    stock (b)	$	16.59
Acquisition date fair value of resTORbio		86,396
Estimated fair value of modified stock options and restricted stock units attributable to pre-combination services (3)		626
Less: portion of the fair value to be distributed as CVR (c)		(2,880	)
Fair value of shares of the combined company owned by resTORbio    stockholders	$	84,142

Schedule of Summarizes the Allocation of the Purchase Price to the Net Tangible and Intangible Assets Acquired

The following summarizes the allocation of the purchase price to the net tangible and intangible assets acquired (in thousands):

	As of December 31, 2020			Measurement Period Adjustments			Final Purchase Price Allocation
Net assets acquired:
Cash and cash equivalents	$	63,869		$	—		$	63,869
Prepaid expenses and other current assets		3,059			615			3,674
Property and equipment		318			—			318
IPR&D		3,490			—			3,490
Restricted cash		245			—			245
Accounts payable		(1,316	)		12			(1,304	)
Accrued and other current liabilities		(2,365	)		—			(2,365	)
Other liabilities		—			—			—
Deferred tax liability		(367	)		—			(367	)
Goodwill		20,089			(627	)		19,462
Purchase price	$	87,022		$	—		$	87,022

Schedule of changes in the Company's IPR&D and CVR since the Merger

The following tables present changes in the Company's IPR&D and CVR since the Merger (in thousands):

	Acquisition Date Fair value as of September 15, 2020		Change in Fair value			As of December 31, 2020		Change in Fair value			As of December 31, 2021
In-process research and development	$	3,490	$	(2,300	)	$	1,190	$	(1,190	)	$	—
Contingent Value Rights	$	2,880	$	(1,900	)	$	980	$	(980	)	$	—