EXHIBIT 11 Computation of Pro Forma Net Loss Per Common Share (in thousands, except per share data) Year Ended December 31, ------------------------------------- 1995 1996 ----------------- ------------------ Net Loss............................................. $(5,067) $(6,141) ======== ======== Pro forma weighted average shares outstanding: Common stock................................... 2,550 7,494 Convertible preferred stock.................... 2,210 355 Cheap stock (treasury stock method)............ 88 -- -------- ------- Pro forma weighted average shares outstanding.................................... 4,848 7,849 ======== ======= Pro forma net loss per share........................ $ (1.05) $(0.78) ======== =======