EX-12.1 2 ex12_109302013.htm EXHIBIT 12.1 RATIO
Exhibit 12.1
 
Progenics Pharmaceuticals, Inc.
Ratio of Earnings (Loss) to Combined Fixed Charges and Preferred Stock Dividends
(in thousands)
 
 
  
Nine Months
Ended
 September 30,
    
Years Ended December 31,
  
 
  
2013
    
2012
    
2011
    
2010
    
2009
    
2008
  
Determination of earnings (loss):
  
   
   
   
   
   
 
Income (loss) from operations
  
$
(34,021
)
  
$
(35,431
)
  
$
10,381
    
$
(69,820
)
  
$
(30,612
)
  
$
(44,672
)
Add:
                                                
Fixed charges
    
616
      
410
      
695
      
709
      
555
      
594
  
 
                                                
Earnings (loss), as adjusted
    $
(33,405
)
  
$
(35,021
)
  
$
11,076
    
$
(69,111
)
  
$
(30,057
)
  
$
(44,078
)
 
                                                
Fixed charges:
                                                
 
                                                
Estimate of interest within rental expense
    
616
      
410
      
695
      
709
      
555
      
594
  
 
                                                
Fixed charges
  
$
616
    
$
410
    
$
695
    
$
709
    
$
555
    
$
594
  
 
                                                
Preferred stock dividends
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
 
                                                
 
                                                
Ratio of earnings (loss) to fixed charges and preferred stock dividends
    
*
      
*
      
16
      
*
      
*
      
*
  
Coverage deficiency amount for total fixed charges and preferred stock dividends (1)
  
$
34,021
    
$
35,431
    
$
-
    
$
69,820
    
$
30,612
    
$
44,672
  

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
For the years ended 2008 through 2010 and 2012 and for the nine months ended September 30, 2013, the Company's coverage ratio is less than one-to-one and it must generate additional earnings of these specified amounts to achieve a coverage ratio of 1:1.