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Share-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Summary of Share-based Compensation Expense
The Company and the Centessa Predecessor Group recorded share-based compensation expense in the following expense categories in the consolidated and combined statements of operations and comprehensive loss (amounts in thousands):
SuccessorPredecessor
Period from January 30, 2021 through
December 31, 2021
Period from January 1, 2021 through
January 29, 2021
Twelve Months Ended
December 31, 2020
Twelve Months Ended
December 31, 2019
Research and development$5,896 $— $336 $236 
General and administrative8,956 — — — 
$14,852 $— $336 $236 
Summary of Stock Option Activity
The following table summarizes stock option activity for the period from January 30, 2021 through December 31, 2021:
Number of SharesWeighted-Average Exercise Price Per ShareWeighted-Average Remaining Contractual TermAggregate
Intrinsic Value
(in million)
Balance at January 30, 2021— $— 
Granted12,872,147 7.92 
Exercised(133,389)5.84
Forfeited(1,008,376)6.41
Balance at December 31, 2021
11,730,382 $8.07 9.2$46.4 
Exercisable at December 31, 2021
536,648 $4.82 7.8$3.7 
Vested and expected to vest at December 31, 202111,730,382 $8.07 9.2$46.4 
Schedule of Assumptions Used to Estimate Fair Value of Stock Option Awards
During the period from January 30, 2021 through December 31, 2021, the fair value of each option was estimated on the date of grant using the weighted average assumptions in the table below:
Expected term (in years)5.9
Expected stock price volatility66.07 %
Risk-free interest rate0.89 %
Expected dividend yield      - %
Summary of Replacement Equity Award Activity
The following table summarizes ordinary share activity for the period from January 30, 2021 through December 31, 2021:
Number of SharesWeighted-Average Grant Date Fair Value Per Share
Unvested at January 30, 2021— 
Granted1,213,802 $15.57 
Vested(230,858)
Unvested at December 31, 2021
982,944