Nektar Therapeutics
Statement RE: Ratio of Earnings to Fixed Charges
(in thousands, except for ratios)
| |
Year Ended December 31, |
Six Months Ended June 30, |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| |
2003 |
2002 |
2001 |
2000 |
1999 |
1998 |
2004 |
2003 |
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| 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 |
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| 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 | |||||||||||||||||