EX-12.1 5 a2145482zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1


Nektar Therapeutics
Statement RE: Ratio of Earnings to Fixed Charges
(in thousands, except for ratios)

 
  Year Ended December 31,
  Six Months Ended
June 30,

 
 
  2003
  2002
  2001
  2000
  1999
  1998
  2004
  2003
 
RATIO OF EARNINGS TO FIXED CHARGES                                                  
Loss before income taxes and cumulative effect of accounting change   $ (65,721 ) $ (107,468 ) $ (250,008 ) $ (97,403 ) $ (38,448 ) $ (18,356 ) $ (62,032 ) $ (32,988 )
Add: Fixed charges     19,670     18,293     16,297     13,726     2,470     662     19,509     8,478  
Less: Capitalized interest             (1,230 )           (203 )        
   
 
 
 
 
 
 
 
 
Earnings   $ (46,051 ) $ (89,175 ) $ (234,941 ) $ (83,677 ) $ (35,978 ) $ (17,897 ) $ (42,523 ) $ (24,510 )

Interest expense

 

$

17,897

 

$

16,613

 

$

13,431

 

$

12,138

 

$

2,075

 

$

270

 

$

18,814

 

$

8,302

 
Amortization of debt issuance costs     1,430     1,268     1,366     1,254     131         531      
Capitalized interest             1,230             203          
Estimated interest portion of rental expense     343     412     270     334     264     189     164     176  
   
 
 
 
 
 
 
 
 
Fixed charges   $ 19,670   $ 18,293   $ 16,297   $ 13,726   $ 2,470   $ 662   $ 19,509   $ 8,478  
   
 
 
 
 
 
 
 
 
Excess (deficiency) of earnings available to cover fixed charges   $ (65,721 ) $ (107,468 ) $ (251,238 ) $ (97,403 ) $ (38,448 ) $ (18,559 ) $ (62,032 ) $ (32,988 )
   
 
 
 
 
 
 
 
 
Preference dividends   $   $   $   $   $   $   $   $  
   
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A  
Ratio of Fixed Charges and Preference Dividends to Earnings     N/A     N/A     N/A     N/A     N/A     N/A     N/A     N/A  



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