Exhibit 11
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REGENERON PHARMACEUTICALS, INC.
STATEMENT OF COMPUTATION OF LOSS PER SHARE
for the years ended December 31, 1996, 1995 and 1994
1996 1995 1994
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Primary:
Net loss ($32,423,778) ($23,507,274) ($30,654,740)
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Weighted average number
of Class A and common shares
outstanding during the period 24,463,516 19,768,466 18,866,993
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Net loss per share ($1.33) ($1.19) ($1.62)
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Fully diluted:
Net loss ($32,423,778) ($23,507,274) ($30,654,740)
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Weighted average number
of Class A and common shares
outstanding during the period 24,463,516 19,768,466 18,866,993
Shares issuable upon exercise of options 2,963,450 2,413,147 480,781
Shares assumed to be repurchased under
the treasury stock method (1,270,915) (980,997) (288,146)
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26,156,051 21,200,616 19,059,628
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Net loss per share ($1.24) ($1.11) ($1.61)
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