EX-12.1 4 a12-29921_1ex12d1.htm EX-12.1

Exhibit 12.1

 

CELLDEX PHARMACEUTICALS, INC.

 

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES

 

 

 

Year Ended December 31,

 

 

 

2011

 

2010

 

2009

 

2008

 

2007

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from continuing operations before taxes

 

$

(43,399

)

$

(6,455

)

$

(36,850

)

$

(48,756

)

$

(15,508

)

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expensed and amortization of debt discount

 

1,796

 

1,337

 

452

 

156

 

—

 

Estimate of interest within rental expense (2)

 

841

 

821

 

825

 

726

 

99

 

Total fixed charges

 

2,637

 

2,158

 

1,277

 

882

 

99

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss as defined for ratio to fixed charges

 

$

(40,762

)

$

(4,297

)

$

(35,573

)

$

(47,874

)

$

(15,409

)

 

 

 

 

 

 

 

 

 

 

 

 

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, 2011, 2010, 2009, 2008, and 2007 earnings were insufficient to cover fixed charges by $43.4 million, $6.5 million, $36.9 million, $48.8 million, and $15.5 million, respectively.

 

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