Exhibit 11 BONE CARE INTERNATIONAL, INC. Statement Regarding Computation of Loss Per Share ------------------------------ Three Months Ended December 31, December 31, 2001 2000 ------------------------------ Net loss $(1,253,903) $(2,689,989) ============================== Weighted average number of common shares 14,072,551 12,241,524 ============================== Net loss per common share - basic $ (0.09) $ (0.22) ============================== Net loss per common share - diluted $ (0.09) $ (0.22) ============================== ------------------------------ Six Months Ended December 31, December 31, 2001 2000 ------------------------------ Net loss $(3,390,102) $(4,418,482) ============================== Weighted average number of common shares 14,030,063 11,849,096 ============================== Net loss per common share - basic $ (0.24) $ (0.37) ============================== Net loss per common share - diluted $ (0.24) $ (0.37) ============================== -16-