EXHIBIT 12.1
Nuvelo, Inc.
Computation of Ratios of Earnings to Fixed Charges
(in thousands, except ratio)
Years Ended December 31, | Nine Months September 30, 2003 | |||||||||||||||||||||||
1998 | 1999 | 2000 | 2001 | 2002 | ||||||||||||||||||||
Loss from continuing operations before taxes | $ | (16,369 | ) | $ | (18,547 | ) | $ | (22,253 | ) | $ | (36,472 | ) | $ | (44,978 | ) | $ | (40,797 | ) | ||||||
Add: Fixed charges | 542 | 1,141 | 1,580 | 3,580 | 4,529 | 3,150 | ||||||||||||||||||
Earnings as defined | $ | (15,827 | ) | $ | (17,406 | ) | $ | (20,673 | ) | $ | (32,892 | ) | $ | (40,449 | ) | $ | (37,647 | ) | ||||||
Estimated interest component of rent | $ | 366 | $ | 451 | $ | 709 | $ | 2,689 | $ | 3,287 | $ | 2,016 | ||||||||||||
Interest expense (1) | 176 | 690 | 871 | 891 | 1,242 | 1,134 | ||||||||||||||||||
Total fixed charges | $ | 542 | $ | 1,141 | $ | 1,580 | $ | 3,580 | $ | 4,529 | $ | 3,150 | ||||||||||||
Ratio (3) | — | — | — | — | — | — | ||||||||||||||||||
(1) | Includes amortization of debt issuance costs |
(2) | We have not included a ratio of earnings to combined fixed charges and preferred stock dividends because we do not have preferred stock outstanding |
(3) | Earnings (as defined) for the period were insufficient to cover fixed charges |