Exhibit 12.1
Conatus Pharmaceuticals Inc.
Computation of Ratio of Earnings to Fixed Charges
| Year Ended December 31, | Six Months Ended June 30, | |||||||||||||||||||||||
| 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | |||||||||||||||||||
Computation of earnings: | ||||||||||||||||||||||||
Net income (loss) before provision for income taxes | $ | (8,749,239 | ) | $ | (15,616,492 | ) | $ | (22,319,891 | ) | $ | (24,148,626 | ) | $ | (29,733,441 | ) | $ | (9,039,632 | ) | ||||||
Fixed charges, as calculated below | 76,452 | 469,566 | 79,072 | 79,662 | 77,453 | 288,112 | ||||||||||||||||||
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Total earnings | $ | (8,672,787 | ) | $ | (15,146,926 | ) | $ | (22,240,819 | ) | $ | (24,068,964 | ) | $ | (29,655,988 | ) | $ | (8,751,520 | ) | ||||||
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Computation of fixed charges: | ||||||||||||||||||||||||
Interest expense, including amortization of debt issuance cost | $ | 70,000 | $ | 462,570 | $ | 70,000 | $ | 70,000 | $ | 70,000 | $ | 284,313 | ||||||||||||
Estimated interest expense portion of rental expense | 6,452 | 6,996 | 9,072 | 9,662 | 7,453 | 3,799 | ||||||||||||||||||
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Total fixed charges | $ | 76,452 | $ | 469,566 | $ | 79,072 | $ | 79,662 | $ | 77,453 | $ | 288,112 | ||||||||||||
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Ratio of earnings to fixed charges(1) | — | — | — | — | — | — | ||||||||||||||||||
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| (1) | Our earnings were inadequate to cover fixed charges for the years ended December 31, 2012, 2013, 2014, 2015 and 2016 by $8.7 million, $15.6 million, $22.3 million, $24.1 million and $29.7 million, respectively, and by $9.0 million for the six months ended June 30, 2017. |
For the periods indicated above, we had no outstanding shares of preferred stock with required dividend payments. Therefore, the ratios of earnings to combined fixed charges and preferred stock dividends are identical to the ratios presented in the tables above.
