Progenics Pharmaceuticals (PGNX) 10-Q 2014 Q3 Quarterly report

Exhibit 12.1

Progenics Pharmaceuticals, Inc.

Ratio of Earnings (Loss) to Combined Fixed Charges and Preferred Stock Dividends

(in thousands)

	Nine MonthsEndedSeptember 30,		Years Ended December 31,
	2014		2013			2012			2011		2010			2009
Determination of earnings (loss):
Income (loss) from operations	$	16,589	$	(42,934	)	$	(35,431	)	$	10,381	$	(69,820	)	$	(30,612	)
Add:
Fixed charges		280		710			410			695		709			555
Earnings (loss), as adjusted	$	16,869	$	(42,224	)	$	(35,021	)	$	11,076	$	(69,111	)	$	(30,057	)
Fixed charges:
Estimate of interest within rental expense		280		710			410			695		709			555
Fixed charges	$	280	$	710		$	410		$	695	$	709		$	555
Preferred stock dividends	$	-	$	-		$	-		$	-	$	-		$	-
Ratio of earnings (loss) to fixed charges and preferred stock dividends		60		*			*			16		*			*
Coverage deficiency amount for total fixed charges and preferred stock dividends (1)	$	-	$	42,934		$	35,431		$	-	$	69,820		$	30,612

⁽¹⁾ For the years ended 2009, 2010, 2012 and 2013, the Company's coverage ratio is less than one-to-one and it must generate additional earnings of these specified amounts to achieve a coverage ratio of 1:1.