EXHIBIT 12.1
Nektar Therapeutics
Statement RE: Ratio of Earnings to Fixed Charges
(in thousands, except for ratios)
| Year Ended December 31, | Nine Months 2005 | |||||||||||||||||||||||
| 2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||||||||
Loss before income taxes and cumulative effect of accounting change | $ | (101,886 | ) | $ | (65,721 | ) | $ | (107,468 | ) | $ | (250,008 | ) | $ | (97,403 | ) | $ | (76,872 | ) | ||||||
Add: Fixed charges | 27,126 | 19,670 | 18,293 | 16,297 | 13,726 | 9,832 | ||||||||||||||||||
Less: Capitalized interest | — | — | — | (1,230 | ) | — | — | |||||||||||||||||
Earnings | $ | (74,760 | ) | $ | (46,051 | ) | $ | (89,175 | ) | $ | (234,941 | ) | $ | (83,677 | ) | $ | (67,040 | ) | ||||||
Interest expense | $ | 24,800 | $ | 17,897 | $ | 16,613 | $ | 13,431 | $ | 12,138 | $ | 8,169 | ||||||||||||
Amortization of debt issuance costs | 947 | 1,430 | 1,268 | 1,366 | 1,254 | 739 | ||||||||||||||||||
Capitalized interest | — | — | — | 1,230 | — | — | ||||||||||||||||||
Estimated interest portion of rental expense | 1,379 | 343 | 412 | 270 | 334 | 924 | ||||||||||||||||||
Fixed charges | $ | 27,126 | $ | 19,670 | $ | 18,293 | $ | 16,297 | $ | 13,726 | $ | 9,832 | ||||||||||||
Excess (deficiency) of earnings available to cover fixed charges | $ | (101,886 | ) | $ | (65,721 | ) | $ | (107,468 | ) | $ | (251,238 | ) | $ | (97,403 | ) | $ | (76,872 | ) | ||||||
Preference dividends | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Ratio of Earnings to Fixed Charges | N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||||||||
