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S-3 Filing
Merrimack Pharmaceuticals (MACK) S-3Shelf registration
Filed: 1 Feb 13, 12:00am
Exhibit 12
Calculation of Consolidated Ratios of Earnings to Fixed Charges
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| 9/30/2012 |
| 12/31/2011 |
| 12/31/2010 |
| 12/31/2009 |
| 12/31/2008 |
| 12/31/2007 |
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Fixed Charges: |
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Interest expense on indebtedness |
| — |
| 13 |
| 53 |
| 104 |
| 250 |
| 947 |
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Noncash interest expense and other |
| — |
| — |
| 3,673 |
| 4,805 |
| 4,153 |
| 763 |
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Interest expense on portion of rent expense representative of interest |
| 1,033 |
| 1,078 |
| 949 |
| 694 |
| 462 |
| 463 |
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Total Fixed Charges |
| 1,033 |
| 1,091 |
| 4,675 |
| 5,603 |
| 4,865 |
| 2,173 |
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Earnings (loss): |
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Net income (loss) before benefit for income taxes |
| (66,861 | ) | (79,676 | ) | (50,159 | ) | (52,475 | ) | (45,552 | ) | (31,689 | ) |
Fixed charges per above |
| 1,033 |
| 1,091 |
| 4,675 |
| 5,603 |
| 4,865 |
| 2,173 |
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Total earnings (loss) |
| (65,828 | ) | (78,585 | ) | (45,484 | ) | (46,872 | ) | (40,687 | ) | (29,516 | ) |
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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 |
| (66,861 | ) | (79,676 | ) | (50,159 | ) | (52,475 | ) | (45,552 | ) | (31,689 | ) |