ARONEX PHARMACEUTICALS, INC.
Exhibit 11.1
Statement Regarding Computation of Per Share Earnings
The following reflects the information used in calculating the number of shares
in the computation of net loss per share for each of the periods set forth in
the Statements of Operations.
Average Loss
Days Shares Shares Per
Shares Outstanding X Days Outstanding Loss Share
Nine Months Ended September 30, 1997: 14,597,247 8 116,777,976
14,606,972 12 175,283,664
14,612,023 4 58,448,092
14,612,499 21 306,862,479
14,615,983 6 87,695,898
14,616,981 1 14,616,981
14,624,239 5 73,121,195
14,625,111 2 29,250,222
14,627,695 7 102,393,865
14,628,567 6 87,771,402
14,640,311 6 87,841,866
14,643,658 6 87,861,948
14,644,672 1 14,644,672
14,644,816 7 102,513,712
14,644,982 2 29,289,964
14,645,277 4 58,581,108
14,665,277 22 322,636,094
14,665,665 9 131,990,985
14,674,453 19 278,814,607
14,678,042 6 88,068,252
14,680,055 7 102,760,385
14,680,344 19 278,926,536
14,687,394 31 455,309,214
14,710,122 9 132,391,098
14,712,069 5 73,560,345
14,712,575 12 176,550,900
14,712,699 6 88,276,194
14,714,018 2 29,428,036
14,719,923 9 132,479,307
15,406,372 15 231,095,580
15,408,872 3 46,226,616
15,421,809 1 15,421,809
273 4,016,891,002 /273 14,713,886 (12,278,000) (0.83)
Nine Months Ended September 30, 1998: 15,459,166 11 170,050,826
15,460,684 71 1,097,708,564
15,465,729 1 15,465,729
15,467,281 98 1,515,793,538
15,497,443 92 1,425,764,756
15,503,745 1 15,503,745
274 4,240,287,158 /274 15,475,501 (16,546,000) (1.07)
Quarter Ended September 30, 1997: 14,687,394 30 440,621,820
14,710,122 9 132,391,098
14,712,069 5 73,560,345
14,712,575 12 176,550,900
14,712,699 6 88,276,194
14,714,018 2 29,428,036
14,719,923 9 132,479,307
15,406,372 15 231,095,580
15,408,872 3 46,226,616
15,421,809 1 15,421,809
92 1,366,051,705 /92 14,848,388 (5,984,000) (0.40)
Quarter Ended September 30, 1998: 15,497,443 91 1,410,267,313
15,503,745 1 15,503,745
92 1,425,771,058 /92 15,497,512 (6,059,000) (0.39)