XML 59 R36.htm IDEA: XBRL DOCUMENT v3.22.4
Related Party Transactions (Details)
1 Months Ended 3 Months Ended 9 Months Ended
Aug. 01, 2020
Dec. 27, 2019
USD ($)
director
day
Aug. 31, 2020
Dec. 31, 2022
USD ($)
$ / shares
shares
Dec. 31, 2021
USD ($)
Dec. 31, 2022
USD ($)
$ / shares
shares
Dec. 31, 2021
USD ($)
Oct. 23, 2022
USD ($)
$ / shares
Mar. 31, 2022
$ / shares
Related Party Transaction [Line Items]                  
Common shares par value (in USD per share) | $ / shares       $ 0.000017727   $ 0.000017727   $ 0.000017727 $ 0.000017727
Interest expense [1]       $ 6,118,000 $ 3,479,000 $ 15,131,000 $ 10,478,000    
Expenses incurred under agreements       $ 1,362,000 1,337,000 $ 3,766,000 3,784,000    
Sumitomo Pharma, Co., Ltd. | Myovant Sciences Ltd.                  
Related Party Transaction [Line Items]                  
Potential termination fee               $ 55,250,000  
Sumitomo Pharma, Co., Ltd. | Majority Shareholder                  
Related Party Transaction [Line Items]                  
Number of shares owned (in shares) | shares       50,041,181   50,041,181      
Ownership percentage       51.60%   51.60%      
Ownership threshold for appointment of directors   50.00%              
Number of independent directors required for audit committee | director   3              
Ownership threshold for voting rights   60.00%              
Ownership threshold for right of ownership percentage maintenance   50.00%              
Sumitomo Pharma, Co., Ltd. | Majority Shareholder | Sunovion Pharmaceuticals Inc. Market Access Services Agreement                  
Related Party Transaction [Line Items]                  
Agreement term 3 years                
Agreement extension term 1 year                
Termination notice period 9 months                
Sumitovant Biopharma, Inc. | Services Information Sharing Agreement                  
Related Party Transaction [Line Items]                  
Expenses incurred under agreements       $ 100,000   $ 100,000      
MSG | Majority Shareholder | Sunovion Pharmaceuticals Inc. Market Access Services Agreement | Selling, General and Administrative Expenses                  
Related Party Transaction [Line Items]                  
Agreement term     2 years            
Expenses incurred under agreements       1,300,000 1,300,000 3,700,000 3,800,000    
Term Loan | Letter Agreement with Sumitomo Dainippon Pharma, Co., Ltd. | Sumitomo Pharma, Co., Ltd.                  
Related Party Transaction [Line Items]                  
Interest expense       6,118,000 $ 2,871,000 14,563,000 $ 8,660,000    
Term Loan | Letter Agreement with Sumitomo Dainippon Pharma, Co., Ltd. | Sumitomo Pharma, Co., Ltd. | Majority Shareholder                  
Related Party Transaction [Line Items]                  
Maximum borrowing commitment   $ 400,000,000              
Facility term   5 years              
Notice period for prepayment | day   10              
Default interest rate (as a percent)   5.00%              
Repayment period upon change in control   30 days              
Outstanding balance       358,700,000   358,700,000      
Term Loan | Letter Agreement with Sumitomo Dainippon Pharma, Co., Ltd. | Sumitomo Pharma, Co., Ltd. | Majority Shareholder | Myovant Sciences GmbH                  
Related Party Transaction [Line Items]                  
Available borrowing capacity       $ 41,300,000   $ 41,300,000      
LIBOR | Term Loan | Letter Agreement with Sumitomo Dainippon Pharma, Co., Ltd. | Sumitomo Pharma, Co., Ltd. | Majority Shareholder                  
Related Party Transaction [Line Items]                  
Variable interest rate (as a percent)   3.00%              
[1] Includes $6,118 and $14,563 of interest expense under the Sumitomo Pharma Loan Agreement for the three and nine months ended December 31, 2022, respectively. Includes $2,871 and $8,660 of interest expense under the Sumitomo Pharma Loan Agreement for the three and nine months ended December 31, 2021, respectively. See Note (5C).