EX-12.1 5 ex-12d1.htm EX-12.1 ecyt_Ex12_1

Exhibit 12.1

 

STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(dollars in thousands)

 

 

 

 

Fiscal Year Ended
December 31,

 

Six Months
Ended
June 30,

 

    

2012

    

2013

    

2014

    

2015

    

2016

    

2017

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense on indebtedness

 

$

555 

 

$

— 

 

$

— 

 

$

— 

 

$

— 

 

$

— 

Non-cash interest expense and other

 

 

74 

 

 

— 

 

 

— 

 

 

— 

 

 

— 

 

 

— 

Interest expense on portion of rent expense representative of interest

 

 

74 

 

 

113 

 

 

125 

 

 

106 

 

 

107 

 

 

136 

Total fixed charges

 

$

703 

 

$

113 

 

$

125 

 

$

106 

 

$

107 

 

$

136 

Earnings (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) before income taxes

 

$
(17,292)

 

$
(18,032)

 

$

5,459 

 

$
(41,270)

 

$
(43,888)

 

$
(23,233)

Fixed charges per above

 

 

703 

 

 

113 

 

 

125 

 

 

106 

 

 

107 

 

 

136 

Total earnings (loss)

 

$
(16,589)

 

$
(17,919)

 

$

5,584 

 

$
(41,164)

 

$
(43,781)

 

$
(23,097)

Ratio of earnings to fixed charges

 

 

— 

 

 

— 

 

 

44.7 

 

 

— 

 

 

— 

 

 

— 

Deficiency of earnings available to cover fixed charges

 

$
(17,292)

 

$
(18,032)

 

$

— 

 

$
(41,270)

 

$
(43,888)

 

$
(23,233)