Exhibit 12.1
PTC Therapeutics, Inc.
Statement of Computation of Ratios of Earnings to Fixed Charges and Combined Fixed Charges and Preferred Stock Dividends
(In thousands, except ratio data)
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| Six Months |
| Fiscal Years Ended December 31, |
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| 2017 |
| 2016 |
| 2015 |
| 2014 |
| 2013 |
| 2012 |
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Computation of earnings: |
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Net loss before provision for income taxes |
| $ | (46,216 | ) | $ | (141,541 | ) | $ | (169,962 | ) | $ | (98,446 | ) | $ | (51,574 | ) | $ | (26,235 | ) |
Add back: Fixed charges |
| 6,517 |
| 11,593 |
| 4,551 |
| 310 |
| 6,608 |
| 2,115 |
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Total loss |
| $ | (39,699 | ) | $ | (129,948 | ) | $ | (165,411 | ) | $ | (98,136 | ) | $ | (44,966 | ) | $ | (24,120 | ) |
Computation of fixed charges: |
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Interest expense |
| 6,154 |
| 10,864 |
| 3,955 |
| 1 |
| 6,367 |
| 1,869 |
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Estimated interest component of rent expense (1) |
| 363 |
| 729 |
| 596 |
| 309 |
| 241 |
| 246 |
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Total fixed charges |
| $ | 6,517 |
| $ | 11,593 |
| $ | 4,551 |
| $ | 310 |
| $ | 6,608 |
| $ | 2,115 |
|
Preferred stock deemed dividend |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | (18,249 | ) | $ | — |
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Deficiency of earnings available to cover fixed charges (2) |
| $ | (46,216 | ) | $ | (141,541 | ) | $ | (169,962 | ) | $ | (98,446 | ) | $ | (51,574 | ) | $ | (26,235 | ) |
Ratio of earnings to fixed charges |
| N/A |
| N/A |
| N/A |
| N/A |
| N/A |
| N/A |
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Deficiency of earnings available to cover fixed charges and preferred stock dividends (3) |
| $ | (46,216 | ) | $ | (141,541 | ) | $ | (169,962 | ) | $ | (98,446 | ) | $ | (69,823 | ) | $ | (26,235 | ) |
Ratio of earnings to fixed charges and preferred stock dividends |
| N/A |
| N/A |
| N/A |
| N/A |
| N/A |
| N/A |
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(1) The interest component of rent was determined based on an estimate of a reasonable interest factor at inception of the leases.
(2) Losses in each period. Earnings insufficient to cover fixed charges by the amounts indicated.
(3) Losses in each period. Earnings insufficient to cover fixed charges and preferred stock dividends by the amounts indicated.