EX-12.1 4 a2197644zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1

CELLDEX PHARMACEUTICALS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
   Year Ended December 31,  
 
   2009   2008   2007   2006   2005  
 
   (In thousands)
  

Loss from continuing operations before taxes

   $ (36,850 ) $ (48,756 ) $ (15,508 ) $ (18,795 ) $ (17,369 )

Fixed Charges:

                                
 

Interest expensed and amortization of debt discount

     452     156     —     —     —  
 

Estimate of interest within rental expense(2)

     825     726     99     66     33  
                       

Total fixed charges

     1,277     882     99     66     33  
                       

Loss as defined for ratio to fixed charges

   $ (35,573 ) $ (47,874 ) $ (15,409 ) $ (18,729 ) $ (17,336 )
                       

Ratio of earnings to fixed charges

     (1 )   (1 )   (1 )   (1 )   (1 )
(1)
Due to the Company's loss from continuing operations for the years ended December 31, 2009, 2008, 2007, 2006, and 2005 earnings were insufficient to cover fixed charges by $36.9 million, $48.8 million, $15.5 million, $18.8 million, and $17.4 million, respectively.

(2)
Interest component on rentals estimated to be one-third of rentals.



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