EXHIBIT 12.1
Peregrine Pharmaceuticals, Inc.
Statement Regarding Computation of Ratios
Fiscal Year Ended April 30, | Six Months Ended October 31, | |||||||||||||||||||||||
2009 | 2010 | 2011 | 2012 | 2013 | 2013 | |||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Pretax loss from operations | $ | (16,524 | ) | $ | (14,494 | ) | $ | (34,151 | ) | $ | (42,119 | ) | $ | (29,780 | ) | $ | (15,390 | ) | ||||||
Add: fixed charges | 972 | 1,478 | 1,108 | 638 | 2,219 | 213 | ||||||||||||||||||
Total earnings available for fixed charges | $ | (15,552 | ) | $ | (13,016 | ) | $ | (33,043 | ) | $ | (41,481 | ) | $ | (27,561 | ) | $ | (15,177 | ) | ||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense | 223 | 518 | 281 | 55 | 46 | 1 | ||||||||||||||||||
Amortization of discount on notes payable and debt issuance costs | 185 | 430 | 235 | 33 | – | – | ||||||||||||||||||
Loss on extinguishment of debt | – | – | – | – | 1,696 | – | ||||||||||||||||||
Interest component of rent expense (1) | 564 | 530 | 592 | 550 | 477 | 212 | ||||||||||||||||||
Total Fixed Charges | $ | 972 | $ | 1,478 | $ | 1,108 | $ | 638 | $ | 2,219 | $ | 213 | ||||||||||||
Deficiency of earnings available to cover combined fixed charges and preferred stock dividends (2) | $ | (16,524 | ) | $ | (14,494 | ) | $ | (34,151 | ) | $ | (42,119 | ) | $ | (29,780 | ) | $ | (15,390 | ) |
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(1) | Represents the portion of rental expense from operating leases that is estimated by us to be representative of interest. |
(2) | We have not paid any dividends on preferred stock and no preferred stock was outstanding for any of the periods presented. |