EX-12.1 7 d505445dex121.htm EX-12.1 EX-12.1

EXHIBIT 12.1

AGIOS PHARMACEUTICALS INC.

STATEMENT OF COMPUTATION OF RATIOS

 

   

Nine Months

Ended

September 30,

    Years Ended December 31,  
    2017     2016     2015     2014     2013     2012  

Earnings Available for Fixed Charges:

           

Net loss from operations

    (230,664,000     (200,985,000     (118,700,000     (54,133,000     (38,882,945     (22,995,000

Add: Provision (benefit) for income taxes

    —         —         —         (426,000     579,000       (2,824,000

Add: Fixed charges

    170,830       307,285       349,757       234,324       113,936       113,936  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL EARNINGS AVAILABLE FOR FIXED CHARGES

    (230,493,170     (200,677,715     (118,350,243     (54,324,676     (38,190,009     (25,705,064
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed Charges:

           

Interest expense

    —         —         —         —         —         —    

Add: Portion of rental expense which represents interest factor

    170,830       307,285       349,757       234,324       113,936       113,936  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL FIXED CHARGES

    170,830       307,285       349,757       234,324       113,936       113,936  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Preferred stock dividends

    —         —         —         —         4,162,000       7,190,000  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

    170,830       307,285       349,757       234,324       4,275,936       7,471,643  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of Earnings to Fixed
Charges(1)(2)

    —         —         —         —         —         —    
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of Earnings to Fixed Charges and Preferred Stock
Dividends(1)(3)

    —         —         —         —         —         —    
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) Due to our losses for the nine months ended September 30, 2017 and for the years ended December 31, 2016, 2015, 2014, 2013, and 2012 the coverage ratio was less than 1:1.
(2) We would have needed to generate additional earnings of $230.7 million, $201.0 million, $118.7 million, $54.6 million, $38.3 million, and $25.8 million for the nine months ended September 30, 2017 and for the years ended December 31, 2016, 2015, 2014, 2013, and 2012, respectively, to cover our fixed charges in those periods.
(3) We would have needed to generate additional earnings of $230.7 million, $201.0 million, $118.7 million, $54.6 million, $42.5 million, and $33.2 million for the nine months ended September 30, 2017 and for the years ended December 31, 2016, 2015, 2014, 2013, and 2012, respectively, to cover our fixed charges and accrued preferred dividends during those periods. We did not have any preferred stock outstanding after the completion of our initial public offering in July 2013.