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ARONEX PHARMACEUTICALS, INC. AND SUBSIDIARIES
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 Consolidated Statements of Operations.
Average Loss
Days Shares Shares Per
Shares Outstanding X Days Outstanding Loss Share
------ ----------- ------ ----------- ---- -----
Year Ended December 31, 1999: 16,379,309 3 49,137,927
16,415,664 50 820,783,200
22,415,664 14 313,819,296
22,463,211 21 471,727,431
22,474,987 1 22,474,987
22,494,671 1 22,494,671
22,495,050 64 1,439,683,200
22,496,505 26 584,909,130
22,555,435 1 22,555,435
22,555,977 8 180,447,816
22,560,179 27 609,124,833
22,697,866 20 453,957,320
22,719,999 6 136,319,994
22,723,765 3 68,171,295
22,723,927 13 295,411,051
22,773,927 5 113,869,635
22,775,753 9 204,981,777
22,788,071 54 1,230,555,834
22,815,293 21 479,121,153
22,815,793 1 22,815,793
22,830,369 16 365,285,904
22,853,783 1 22,853,783
365 7,930,501,465 /365 21,727,401 (14,094,000) (0.65)
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Average Loss
Days Shares Shares Per
Shares Outstanding X Days Outstanding Loss Share
Year Ended December 31, 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 97 1,500,326,257
15,497,443 92 1,425,764,756
15,503,745 1 15,503,745
15,503,745 40 620,149,800
15,508,745 9 139,578,705
15,509,301 5 77,546,505
16,347,290 23 375,987,670
16,349,706 6 98,098,236
16,352,277 6 98,113,662
16,352,763 2 32,705,526
16,379,309 1 16,379,309
365 5,683,379,290 /365 15,570,902 (18,231,000) (1.17)
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Average Loss
Days Shares Shares Per
Shares Outstanding X Days Outstanding Loss Share
Year Ended December 31, 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 9 138,796,281
15,423,809 2 30,847,618
15,427,540 24 370,260,960
15,444,824 57 880,354,968
15,459,166 1 15,459,166
365 5,437,188,186 /365 14,896,406 (16,991,000) (1.14)
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