Business Combination (Tables)

12 Months Ended

Dec. 31, 2020

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 common shares		86,396
Acceleration of 54,553 shares of restricted stock units upon merger (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 at the date of acquisition both as disclosed in the Company’s quarterly report on Form 10-Q as of September 30, 2020 and as adjusted for measurement period adjustments identified during the fourth quarter of 2020 (in thousands):

	As of September 15, 2020 (preliminary)			Measurement Period Adjustments			As of December 31, 2020 (as adjusted)
Net assets acquired:
Cash and cash equivalents	$	63,869		$	—		$	63,869
Prepaid expenses and other current assets		2,505			554			3,059
Property and equipment		318			—			318
IPR&D		3,490			—			3,490
Restricted cash		245			—			245
Accounts payable		(1,316	)		—			(1,316	)
Accrued and other current liabilities		(2,421	)		56			(2,365	)
Other liabilities		(40	)		40			—
Deferred tax liability		(367	)		—			(367	)
Goodwill		20,739			(650	)		20,089
Purchase price	$	87,022		$	—		$	87,022

Schedule of Supplemental Unaudited Pro Forma Information

The following supplemental unaudited pro forma information represents the Company’s financial results as if the acquisition of resTORbio had occurred on January 1, 2019 (in thousands).

	For the Year Ended December 31,
	2020			2019
Revenue - related party	$	17,903		$	995
Net loss	$	(35,757	)	$	(113,151	)