EXHIBIT 11
FLEMINGTON PHARMACEUTICAL CORPORATION
EARNINGS PER SHARE COMPUTATION
YEAR ENDED
JULY 31, 2000
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BASIC
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WEIGHTED AVERAGE SHARES OUTSTANDING 4,447,163
DILUTIVE EFFECT OF STOCK PERFORMANCE PLANS (1) --
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TOTAL 4,447,163
NET INCOME (LOSS) (1,179,000)
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EARNINGS PER SHARE (.27)
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YEAR ENDED
JULY 31, 1999
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BASIC
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WEIGHTED AVERAGE SHARES OUTSTANDING 3,877,300
DILUTIVE EFFECT OF STOCK PERFORMANCE PLANS (1) --
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TOTAL 3,877,300
NET INCOME (LOSS) (1,367,000)
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EARNINGS PER SHARE (.35)
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(1) SINCE THE COMPANY HAS REPORTED A LOSS FOR EACH PERIOD, NO
POTENTIAL SHARES FROM STOCK PERFORMANCE PLANS HAVE BEEN
PRESENTED, AS THEIR EFFECT WOULD BE ANTI-DILUTIVE.