EXHIBIT 11.1
SCRIPTGEN PHARMACEUTICALS, INC.
COMPUTATION OF NET LOSS PER SHARE AND UNAUDITED PRO FORMA NET LOSS PER SHARE
FOR THE YEAR FOR THE NINE MONTHS
ENDED DECEMBER 31, ENDED SEPTEMBER 30,
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1994 1995 1996 1996 1997
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(UNAUDITED)
Net loss...................................... $ (4,300,974) $ (4,578,927) $ (4,044,019) $ (2,613,508) $ (4,775,456)
Weighted average shares outstanding:
a. Shares attributable to common stock
outstanding............................... 879,251 1,035,062 804,625 818,174 972,174
b. Shares attributable to certain common
stock options, warrants and redeemable
convertible preferred stock (1)........... 2,555,833 2,555,833 2,555,833 2,555,833 2,555,833
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Weighted average common and common equivalent
shares outstanding.......................... 3,435,084 3,590,895 3,360,458 3,374,007 3,528,007
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Net loss per share............................ $ (1.25) $ (1.28) $ (1.20) $ (0.77) $ (1.35)
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FOR THE FOR THE
YEAR ENDED NINE MONTHS ENDED
DECEMBER 31, SEPTEMBER 30,
1996 1997
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Net loss........................................................................ $ (4,044,019) $ (4,775,456)
Unaudited pro forma weighted average
shares outstanding:
a. Shares attributable to common stock outstanding............................ 804,625 972,174
b. Shares attributable to certain common stock options, warrants and
redeemable convertible preferred stock (1).................................. 2,555,833 2,555,833
c. Shares attributable to the assumed conversion of Series A, B, C and D
redeemable convertible preferred stock outstanding upon closing of initial
public offering............................................................. 4,825,555 5,540,988
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Unaudited pro forma weighted average common and common equivalent shares
outstanding................................................................... 8,186,013 9,068,995
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Unaudited pro forma net loss per share.......................................... $ (0.49) $ (0.53)
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(1) Pursuant to Securities and Exchange Commission Staff Accounting Bulletin No.
83, common stock, common stock options, warrants and redeemable convertible
preferred stock issued during the twelve months preceding the initial filing
of the Company's Registration Statement and through the effective date of
the initial public offering have been included in the above computation as
if outstanding for all periods presented.