EXHIBIT 11.1
CYGNUS, INC.
STATEMENT REGARDING COMPUTATION OF LOSS PER SHARE
(IN THOUSANDS, EXCEPT PER SHARE DATA)
YEAR ENDED DECEMBER 31,
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1996 1995 1994
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Primary and fully diluted:
Weighted average of common shares outstanding during the period............. 18,544 16,265 13,947
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Shares used in computation of net loss per share.............................. 18,544 16,265 13,947
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Net loss...................................................................... $ (11,052) $ (12,842) $ (17,360)
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Net loss per share............................................................ $ (0.60) $ (0.79) $ (1.24)
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31