EXHIBIT 12.1
AGIOS PHARMACEUTICALS INC.
STATEMENT OF COMPUTATION OF RATIOS
Nine Months Ended September 30, | Years Ended December 31, | |||||||||||||||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||
Earnings Available for Fixed Charges: | ||||||||||||||||||||||||
Net loss from operations | (230,664,000 | ) | (200,985,000 | ) | (118,700,000 | ) | (54,133,000 | ) | (38,882,945 | ) | (22,995,000 | ) | ||||||||||||
Add: Provision (benefit) for income taxes | — | — | — | (426,000 | ) | 579,000 | (2,824,000 | ) | ||||||||||||||||
Add: Fixed charges | 170,830 | 307,285 | 349,757 | 234,324 | 113,936 | 113,936 | ||||||||||||||||||
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TOTAL EARNINGS AVAILABLE FOR FIXED CHARGES | (230,493,170 | ) | (200,677,715 | ) | (118,350,243 | ) | (54,324,676 | ) | (38,190,009 | ) | (25,705,064 | ) | ||||||||||||
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Fixed Charges: | ||||||||||||||||||||||||
Interest expense | — | — | — | — | — | — | ||||||||||||||||||
Add: Portion of rental expense which represents interest factor | 170,830 | 307,285 | 349,757 | 234,324 | 113,936 | 113,936 | ||||||||||||||||||
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TOTAL FIXED CHARGES | 170,830 | 307,285 | 349,757 | 234,324 | 113,936 | 113,936 | ||||||||||||||||||
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Preferred stock dividends | — | — | — | — | 4,162,000 | 7,190,000 | ||||||||||||||||||
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TOTAL COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS | 170,830 | 307,285 | 349,757 | 234,324 | 4,275,936 | 7,471,643 | ||||||||||||||||||
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Ratio of Earnings to Fixed | — | — | — | — | — | — | ||||||||||||||||||
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Ratio of Earnings to Fixed Charges and Preferred Stock | — | — | — | — | — | — | ||||||||||||||||||
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| (1) | Due to our losses for the nine months ended September 30, 2017 and for the years ended December 31, 2016, 2015, 2014, 2013, and 2012 the coverage ratio was less than 1:1. |
| (2) | We would have needed to generate additional earnings of $230.7 million, $201.0 million, $118.7 million, $54.6 million, $38.3 million, and $25.8 million for the nine months ended September 30, 2017 and for the years ended December 31, 2016, 2015, 2014, 2013, and 2012, respectively, to cover our fixed charges in those periods. |
| (3) | We would have needed to generate additional earnings of $230.7 million, $201.0 million, $118.7 million, $54.6 million, $42.5 million, and $33.2 million for the nine months ended September 30, 2017 and for the years ended December 31, 2016, 2015, 2014, 2013, and 2012, respectively, to cover our fixed charges and accrued preferred dividends during those periods. We did not have any preferred stock outstanding after the completion of our initial public offering in July 2013. |
