Exhibit 12.1
CytomX Therapeutics, Inc.
Computation of Ratio of Earnings to Fixed Charges
(unaudited – in thousands)
Years Ending December 31, | Nine Months Ending September 30, 2016 | |||||||||||||||
2015 | 2014 | 2013 | ||||||||||||||
Earnings | ||||||||||||||||
Loss before provision for income taxes | (35,364 | ) | (30,300 | ) | (15,133 | ) | (44,860 | ) | ||||||||
Fixed charges | 2,045 | 766 | 430 | 1,468 | ||||||||||||
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Earnings, as defined | (33,319 | ) | (29,534 | ) | (14,703 | ) | (43,392 | ) | ||||||||
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Fixed Charges: | ||||||||||||||||
Interest expense | 1,732 | 487 | 254 | 1,300 | ||||||||||||
Interest component of rentals (1) | 313 | 279 | 176 | 168 | ||||||||||||
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Total fixed charges | 2,045 | 766 | 430 | 1,468 | ||||||||||||
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Deficiency in earnings to cover fixed charges | 35,364 | 30,300 | 15,133 | 44,860 | ||||||||||||
Ratio of earnings to fixed charges (2) | * | * | * | * |
(1) | Represents the estimated portion of operating lease rental expense that is considered by us to be a reasonable representation of interest. |
(2) | In each of the periods presented, earnings were not sufficient to cover fixed charges. |