Exhibit 12.1
Idera Pharmaceuticals, Inc.
Calculation of Ratios of Earnings to Combined Fixed Charges and Preferred Stock Dividends
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| Six |
| For the Year Ended December 31, |
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(in thousands) |
| 2017 |
| 2016 |
| 2015 |
| 2014 |
| 2013 |
| 2012 |
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Earnings: |
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Net loss before income taxes |
| $ | (36,528 | ) | $ | (38,389 | ) | $ | (48,555 | ) | $ | (38,642 | ) | $ | (18,226 | ) | $ | (19,240 | ) |
Add: fixed charges |
| 429 |
| 728 |
| 676 |
| 590 |
| 534 |
| 532 |
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Earnings as defined |
| $ | (36,099 | ) | $ | (37,661 | ) | $ | (47,879 | ) | $ | (38,052 | ) | $ | (17,692 | ) | $ | (18,708 | ) |
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Fixed Charges and Preferred Stock Dividends: |
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Interest expense |
| 29 |
| 80 |
| 105 |
| 27 |
| — |
| — |
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Estimated interest component within rental expense (1) |
| 400 |
| 648 |
| 571 |
| 563 |
| 534 |
| 532 |
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Total fixed charges |
| 429 |
| 728 |
| 676 |
| 590 |
| 534 |
| 532 |
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Preferred stock dividends |
| — |
| 1 |
| 1 |
| 519 |
| 1,115 |
| 710 |
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Total fixed charges and preferred stock dividends |
| $ | 429 |
| $ | 729 |
| $ | 677 |
| $ | 1,109 |
| $ | 1,649 |
| $ | 1,242 |
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Ratio of earnings to combined fixed charges and preferred stock dividends: |
| * |
| * |
| * |
| * |
| * |
| * |
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Deficiency |
| $ | (36,528 | ) | $ | (38,390 | ) | $ | (48,556 | ) | $ | (39,161 | ) | $ | (19,341 | ) | $ | (19,950 | ) |
(1) Interest component of rental expense is estimated to equal 1/3 of such expense, which is considered a reasonable approximation of the interest factor.
* Earnings for the period indicated were inadequate to cover fixed charges and preferred stock dividends. The amount of the deficiency by which earnings did not cover fixed charges and preferred stock dividends is disclosed in the above table for each applicable period.
