EX-12.1 4 ligands-3statementofcomput.htm EXHIBIT-COMPUTATION OF RATIOS Ligand S-3 Statement of computation of ratios


Exhibit 12.1

Statement of Computation of Ratios
 
Year Ended December 31,
 
Six Months Ended June 30, 2013
 
2008
 
2009
 
2010
 
2011
 
2012
 
 
 
(in thousands)
Earnings:
 
 
 
 
 
 
 
 
 
 
 
Net loss
$
(97,515
)
 
$
(9,872
)
 
$
(15,403
)
 
$
(3,558
)
 
$
(3,865
)
 
$
5,174

Add: Fixed charges
1,958

 
2,335

 
1,288

 
3,075

 
4,068

 
1,955

Less: Capitalized interest
—

 
—

 
—

 
—

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Total earnings
$
(95,557
)
 
$
(7,537
)
 
$
(14,115
)
 
$
(483
)
 
$
203

 
$
7,129

 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expensed and capitalized
202

 
270

 
58

 
2,477

 
3,305

 
1,361

Estimated interest component of rent expenses
1,756



2,065

 
1,230

 
598

 
763

 
594

 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
1,958

 
2,335

 
1,288

 
3,075

 
4,068

 
1,955

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges(1)
N/A

 
   N/A

 
   N/A

 
   N/A

 
5
%
 
365
%

(1) Earnings were insufficient to cover fixed charges by $97.5 million, $9.9 million, $15.4 million and $3.6 million for the years ended December 31, 2008, 2009, 2010 and 2011, respectively.