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EXHIBIT 11.1
CERUS CORPORATION
STATEMENT REGARDING COMPUTATION OF NET LOSS PER SHARE
(In thousands, except per share data)
DECEMBER 31,
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1994 1995 1996
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Net loss $(1,800,089) $(2,360,321) $(10,206,885)
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Shares used in net loss per share computation:
Weighted average shares of common stock outstanding 1,443,942 1,416,355 1,424,939
Shares related to Staff Accounting Bulletin Topic 4D:
Common stock(1) 485,247 485,247 485,247
Common stock options(2) 265,426 265,426 265,426
Preferred stock(3) 560,001 560,001 560,001
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1,310,674 1,310,674 1,310,674
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Shares used in net loss per share computation 2,754,616 2,727,029 2,735,614
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Net loss per share $ (0.65) $ (0.87) $ (3.73)
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Calculation of shares outstanding for computing pro forma net
loss per share:
Shares used in computing historical net loss per share
(from above): 2,735,614
Adjustment to reflect the effect of the assumed conversion of
convertible preferred stock from the date of issuance(4): 3,852,242
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Shares used in computing pro forma net loss per share 6,587,855
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Pro forma net loss per share $ (1.55)
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(1) Net additional outstanding shares assuming common shares issued after
July 31, 1995 were issued and outstanding in all prior periods and the
proceeds were applied to repurchase shares at the estimated initial public
offering price per share using the Treasury Stock method.
(2) Net additional outstanding shares from stock options granted after July 31,
1995 assuming exercise of options and repurchase of shares at the estimated
initial public offering price per share using the Treasury Stock method.
(3) Series E preferred stock issued in April 1996 and July 1996 (convertible
into common stock) and assumes shares are outstanding in all prior periods
using the if converted method.
(4) Preferred stock issued before July 31, 1995 (convertible into common
stock) using the if converted method.