EXHIBIT 11
DURA PHARMACEUTICALS, INC.
STATEMENTS RE COMPUTATIONS OF NET INCOME (LOSS) PER SHARE
YEAR ENDED DECEMBER 31,
----------------------------------------------------------
1995 1996 1997
---- ---- ----
NET INCOME (LOSS) PER SHARE - BASIC
Net Income (Loss) ($35,778,000) $24,328,000 ($84,692,000)
------------ ----------- ------------
------------ ----------- ------------
Weighted Average Number of
Common and Common Equivalent
Shares:
Common Stock Outstanding 23,440,754 35,834,714 43,828,208
------------ ----------- ------------
------------ ----------- ------------
Net Income (Loss) Per Share - Basic ($1.53) $0.68 ($1.93)
------------ ----------- ------------
------------ ----------- ------------
NET INCOME (LOSS) PER SHARE - DILUTED
Net Income (Loss) ($35,778,000) $24,328,000 ($84,692,000)
------------ ----------- ------------
------------ ----------- ------------
Weighted Average Number of
Common and Common Equivalent
Shares Assuming Issuance of All
Dilutive Contingent Shares:
Common Stock Outstanding 23,440,754 35,834,714 43,828,208
Stock Options -- 1,772,250 --
Warrants -- 2,872,044 --
------------ ----------- ------------
Total 23,440,754 40,479,008 43,828,208
------------ ----------- ------------
------------ ----------- ------------
Net Income (Loss) Per Share - Diluted ($1.53) $0.60 ($1.93)
------------ ----------- ------------
------------ ----------- ------------