EXHIBIT 12.1

NPS PHARMACEUTICALS, INC

STATEMENT REGARDING COMPUTATION

OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands)

	Year Ended December 31,
	2001			2002			2003			2004			2005
Earnings (Loss)
Pre-tax loss before adjustments for income equity from investees and cumulative effect on prior years of changes in accounting principle	$	(51,329	)	$	(87,127	)	$	(172,925	)	$	(166,618	)	$	(169,778	)
Total fixed charges		399			381			4,134			8,297			25,937
Distributed income of equity investees		1,661			193			—			—			—
Total losses before fixed charges	$	(49,269	)	$	(86,553	)	$	(168,791	)	$	(158,321	)	$	(143,841	)
Fixed Charges
Interest expense	$	5			—		$	3,718		$	7,527		$	25,119
Assumed interest attributable to rentals		394			381			416			770			818
Total fixed charges	$	399		$	381		$	4,134		$	8,297		$	25,937
Deficiency of earnings available to cover fixed charges	$	(49,668	)	$	(86,934	)	$	(172,925	)	$	(166,618	)	$	(169,778	)
Ratio of earnings available to cover fixed charges

For the years ended December 31, 2001, 2002, 2003, 2004 and 2005 our earnings were insufficient to cover fixed charges for those periods by $49,668, $86,934, $172,925, $166,618 and $169,778, respectively. In calculating the ratio of earnings available to cover fixed charges, “earnings” consist of pre-tax income (loss) before adjustments for income from equity investees, plus fixed charges and distributed income from equity investees. Fixed charges consists of interest expense and estimated interest included in rental expense.