EXHBIT 12.1 Ratio of Earnings to Fixed Charges Year Ended December 31, 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- Fixed Charges: Interest expense on indebtedness (including amortization of debt expense and discount) $ 22,347 $ 36,082 $ 14,146 $ 191 $ 446 Interest expense on portion of rent expense representative of interest 6,159 3,251 2,951 1,299 1,072 --------- --------- --------- --------- --------- Total Fixed Charges $ 28,506 $ 39,333 $ 17,097 $ 1,490 $ 1,518 ========= ========= ========= ========= ========= Earnings (Loss): Net loss before provision for income taxes and cumulative effect of change in accounting principle $(117,152) $(235,331) $ (41,944) $ (22,957) $ (21,148) Fixed charges per above 28,506 39,333 17,097 1,490 1,518 --------- --------- --------- --------- --------- Total Earnings (Loss) $ (88,646) $(195,998) $ (24,847) $ (21,467) $ (19,630) ========= ========= ========= ========= ========= Ratio of Earnings to Fixed Charges -- -- -- -- -- Coverage deficiency (1)(2) $(117,152) $(235,331) $ (41,944) $ (22,957) $ (21,148) ========= ========= ========= ========= ========= (1) The Company's Coverage deficiency for 2001 includes non-recurring charges aggregating $26,208 arising from the Company's impairment charge relating to its investment in Transgene and debt conversion expenses of $22,314 and $3,894, respectively. (2) The Company's Coverage deficiency for 2000 includes non-recurring charges aggregating $184,868 arising from purchased in-process research and development and debt conversion expenses of $134,050 and $50,818, respectively.