EX-12.1 3 tbio-ex121_20151231x10k.htm EXHIBIT 12.1
Exhibit 12.1
STATEMENT REGARDING THE COMPUTATION OF RATIOS
Our earnings are inadequate to cover combined fixed charges and preference dividends. The following table sets forth the dollar amount of the coverage deficiency (in thousands) for the periods indicated.

| Year Ended December 31,
| 2011 |  | 2012 |  | 2013 |  | 2014 |  | 2015
Loss before income taxes | $ | (9,737 | ) |  | $ | (8,181 | ) |  | $ | (16,041 | ) |  | $ | (13,418 | ) |  | $ | (33,601 | )
Add fixed charges: |  |  |  |  |  |  |  |  |
Interest expense | 959 |  |  | 894 |  |  | 588 |  |  | 597 |  |  | 657 |
Amortization of costs related to indebtedness | — |  |  | — |  |  | 56 |  |  | 69 |  |  | 69 |
Estimated interest factor in rent | 295 |  |  | 325 |  |  | 345 |  |  | 324 |  |  | 262 |
Earnings (loss) | $ | (8,483 | ) |  | $ | (6,962 | ) |  | $ | (15,052 | ) |  | $ | (12,428 | ) |  | $ | (32,613 | )
Fixed charges and preference dividends: |  |  |  |  |  |  |  |  |
Interest expense | 959 |  |  | 894 |  |  | 588 |  |  | 597 |  |  | 657 |
Amortization of costs related to indebtedness | — |  |  | — |  |  | 56 |  |  | 69 |  |  | 69 |
Estimated interest factor in rent | 295 |  |  | 325 |  |  | 345 |  |  | 324 |  |  | 262 |
Total fixed charges | 1,254 |  |  | 1,219 |  |  | 989 |  |  | 990 |  |  | 988 |
Add: |  |  |  |  |  |  |  |  |
Preferred stock dividends | 1,010 |  |  | 660 |  |  | 726 |  |  | 1,144 |  |  | 1,324 |
Combined fixed charges and preferred stock dividends | $ | 2,264 |  |  | $ | 1,879 |  |  | $ | 1,715 |  |  | $ | 2,134 |  |  | $ | 2,312 |
Ratio of earnings(loss) to fixed charges | — |  |  | — |  |  | — |  |  | — |  |  | — |
Ratio of earnings(loss) to combined fixed charges and preferred stock dividends | — |  |  | — |  |  | — |  |  | — |  |  | — |
Deficiency of earnings available to cover fixed charges | $ | 9,737 |  |  | $ | 8,181 |  |  | $ | 16,041 |  |  | $ | 13,418 |  |  | $ | 33,601 |
Deficiency of earnings available to cover combined fixed charges and preference dividends | $ | 10,747 |  |  | $ | 8,841 |  |  | $ | 16,767 |  |  | $ | 14,562 |  |  | $ | 34,925 |