EXHIBIT 12.1
Peregrine Pharmaceuticals, Inc.
Statement Regarding Computation of Ratios
Fiscal Year Ended April 30, | Six Months Ended | |||||||||||||||||||||||
2010 | 2011 | 2012 | 2013 | 2014 | October 31, 2014 | |||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Pretax loss from operations | $ | (14,494 | ) | $ | (34,151 | ) | $ | (42,119 | ) | $ | (29,780 | ) | $ | (35,362 | ) | $ | (25,229 | ) | ||||||
Add: fixed charges per below | 1,478 | 1,108 | 638 | 2,219 | 412 | 165 | ||||||||||||||||||
Total earnings available for fixed charges | $ | (13,016 | ) | $ | (33,043 | ) | $ | (41,481 | ) | $ | (27,561 | ) | $ | (34,950 | ) | $ | (25,064 | ) | ||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense | 518 | 281 | 55 | 46 | 1 | – | ||||||||||||||||||
Amortization of discount on notes payable and debt issuance costs | 430 | 235 | 33 | – | – | – | ||||||||||||||||||
Loss on extinguishment of debt | – | – | – | 1,696 | – | – | ||||||||||||||||||
Interest component of rent expense(1) | 530 | 592 | 550 | 477 | 411 | 165 | ||||||||||||||||||
Total fixed charges | $ | 1,478 | $ | 1,108 | $ | 638 | $ | 2,219 | $ | 412 | $ | 165 | ||||||||||||
Series E preferred stock dividends(2) | – | – | – | – | 401 | 1,802 | ||||||||||||||||||
Deficiency of earnings available to cover combined fixed charges and preferred stock dividends | $ | (14,494 | ) | $ | (34,151 | ) | $ | (42,119 | ) | $ | (29,780 | ) | $ | (35,763 | ) | $ | (27,031 | ) |
__________
(1) | Represents the portion of rental expense from operating leases that is estimated by us to be representative of interest. |
(2) | We did not pay any dividends on preferred stock and no preferred stock was outstanding during the fiscal year 2010 through fiscal year 2013 periods presented. |