Exhibit 12.1

ZIOPHARM Oncology, Inc.

Computation of Ratio of Earnings to Fixed Charges

and to Combined Fixed Changes and Preference Dividends

	Year Ended December 31,															Nine Months Ended September 30,
$ In Thousands, Except Ratio	2009			2010			2011			2012			2013			2014
Fixed charges:
Interest Expense	$	—		$	—		$	—		$	—		$	—		$	—
Amortized premiums discounts and capitalized expenses related to indebtedness		—			—			—			—			—			—
	$	—		$	—		$	—		$	—		$	—		$	—
Earnings (loss):
Net income (loss) before tax benefit (provision)	$	(7,649	)	$	(32,670	)	$	(63,778	)	$	(96,132	)	$	(57,107	)	$	(21,380	)
Add fixed charges		—			—			—			—			—			—
	$	(7,649	)	$	(32,670	)	$	(63,778	)	$	(96,132	)	$	(57,107	)	$	(21,380	)
Ratio of earnings to fixed charges		*			*			*			*			*			*
Deficiency of earnings to fixed charges	$	(7,649	)	$	(32,670	)	$	(63,778	)	$	(96,132	)	$	(57,107	)	$	(21,380	)

* Less than one to one coverage