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Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
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Pro Forma
Year ended Six Months ended
Year ended December 31, December 31, June 30,
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1994 1995 1996 1997 1998 1999 1999 2000
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Fixed charges:
Interest expense on
indebtedness $231 $824 $887 $1,435 $2,410 $3,038 $3,185 $12,135
Interest expense on portion
of rent expense
representative of
interest 1,530 1,689 2,066 3,340 5,840 14,184 15,606 7,927
Preferred stock dividends 27,944 27,944 45,668
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Total fixed charges $1,761 $2,513 $2,953 $4,775 $8,250 $45,166 $46,735 $65,730
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Earnings (loss):
Net income (loss) attributable
to common stockholders
before provision for
income taxes and
minority interest ($6,372) $1,284 ($8,768) ($84,632) ($3,841) ($381,884) ($110,175) (114,418)
Fixed charges per above 1,761 2,513 2,953 4,775 8,250 45,166 46,735 65,730
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Total earnings (loss) ($4,611) $3,797 ($5,815) ($79,857) $4,409 ($336,718) ($63,440) ($48,688)
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Ratio of earnings to fixed
charges (2.62) 1.51 (1.97) (16.72) 0.53 (7.46) (1.36) (0.74)
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Coverage deficiency ($6,372) - ($8,768) ($84,632) ($3,841) ($381,884) ($110,175) ($114,418)
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The pro forma amounts for the year ended December 31, 1999 give effect to
the merger with LeukoSite, Inc. as if it had occurred on January 1, 1999.
The pro forma amounts exclude a charge for in process research and
development for $350,503.
