EX-12.1 3 c00064exv12w1.htm EXHIBIT 12.1 Exhibit 12.1
Exhibit 12.1
GTx, Inc.
Computation of Ratio (Deficiency) of Earnings Available to Cover Fixed Charges
                                                 
    Three Months Ended     Year Ended December 31,  
    March 31, 2010     2009     2008     2007     2006     2005  
 
  
Income (loss):
                                                
Pretax income (loss) from continuing operations (1)
   $ 44,339     $ (46,494 )   $ (51,780 )   $ (40,359 )   $ (35,510 )   $ (36,839 )
Fixed charges (from below)
     32       104       89       35       32       32  
 
                                    
 
                                                
Total income (loss)
     44,371       (46,390 )     (51,691 )     (40,324 )     (35,478 )     (36,807 )
 
                                    
 
                                                
Fixed charges:
                                                
Interest expense
     4       —       —       —       —       —  
Estimated interest portion of rent expenses
     28       104       89       35       32       32  
 
                                    
Total fixed charges
     32       104       89       35       32       32  
 
                                                
Coverage deficiency
   $ —     $ (46,494 )   $ (51,780 )   $ (40,359 )   $ (35,510 )   $ (36,839 )
 
                                    
 
                                                
Ratio of earnings to fixed charges
     1,386.6       —       —       —       —       —  
 
                                    
 
     
(1)  
Pretax income from continuing operations for the three months ended March 31, 2010 includes the recognition as collaboration revenue of all of the remaining $49.9 million of unamortized revenue that was deferred as of December 31, 2009 related to the Company’s global exclusive license and collaboration agreement (the “Collaboration Agreement”) with Merck & Co., Inc. (“Merck”), as well as the final payment of $5.0 million of research and development cost reimbursement that will be received under the Collaboration Agreement from Merck in late 2010, the accelerated recognition of which resulted from the termination of the Collaboration Agreement in March 2010.