1 EXHIBIT 11.1 ARQULE, INC. STATEMENT RE COMPUTATION OF UNAUDITED PRO FORMA NET LOSS PER SHARE YEAR ENDED DECEMBER 31, ----------------------------- 1995 1996 ----------- ----------- Net Loss...................................................... $(2,252,000) $(2,993,000) =========== =========== Weighted average shares outstanding: Common Stock............................................. 599,000 2,430,000 Assumed conversion of preferred stock.................... 5,548,000 4,922,000 Shares issuable pursuant to SAB 83 using the treasury stock method........................................... 706,000 353,000 ----------- ----------- Total Shares.................................................. 6,853,000 7,705,000 =========== =========== Unaudited pro forma net loss per share........................ $ (0.33) $ (0.39) =========== ===========