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EXHIBIT 11
DURA PHARMACEUTICALS, INC.
STATEMENTS RE: COMPUTATION OF EARNINGS PER SHARE
IN THOUSANDS, EXCEPT PER SHARE DATA (1)
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
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1995 1996 1995 1996
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PRIMARY NET INCOME PER
SHARE
NET INCOME ................................... $ 1,811 $ 4,609 $ 2,667 $ 8,665
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WEIGHTED AVERAGE NUMBER
OF COMMON AND COMMON
EQUIVALENT SHARES:
Common stock ............................. 21,108 33,819 21,014 32,598
Stock options ............................ 1,913 1,933 1,909 1,955
Warrants ................................. 2,982 2,927 2,829 2,724
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Total ................................. 26,003 38,679 25,752 37,277
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NET INCOME PER SHARE ......................... $ 0.07 $ 0.12 $ 0.10 $ 0.23
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FULLY DILUTED NET INCOME
PER SHARE:
NET INCOME ................................... $ 1,811 $ 4,609 $ 2,667 $ 8,665
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WEIGHTED AVERAGE NUMBER
OF COMMON AND COMMON
EQUIVALENT SHARES ASSUMING
ISSUANCE OF ALL DILUTIVE
CONTINGENT SHARES:
Common stock ............................. 21,108 33,819 21,014 32,598
Stock options ............................ 2,096 1,934 2,169 2,064
Warrants ................................. 3,300 2,928 3,300 3,007
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Total ................................. 26,504 38,681 26,483 37,669
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NET INCOME PER SHARE ......................... $ 0.07 $ 0.12 $ 0.10 $ 0.23
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(1) The per share data and weighted average number of common and common
equivalents shares have been adjusted to reflect the 100% stock dividend
effective July 1, 1996.