EXHIBIT 12.1
RIGEL PHARMACEUTICALS, INC.
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND RATIO OF COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
The following table sets forth our ratio of earnings to fixed charges. Our earnings were insufficient to cover fixed charges and combined fixed charges and preferred stock dividends for years ended December 31, 2017, 2016, 2015, 2014 and 2013. “Earnings” consist of net income (loss) from operations before income taxes and fixed charges. “Fixed charges” consist of interest expense and the portion of operating lease expense that represents interest. The extent to which earnings were insufficient to cover fixed charges and combined fixed charges and preferred stock dividends for those periods is shown below. Amounts shown are in thousands except the ratio.
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Year Ended December 31, |
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2017 |
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2016 |
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2015 |
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2014 |
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2013 |
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Earnings: |
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Income (loss) from operations before income taxes |
|
$ |
(77,992 |
) |
$ |
(69,216 |
) |
$ |
(51,464 |
) |
$ |
(90,908 |
) |
$ |
(89,027 |
) |
|
Plus: Combined fixed charges and preferred stock dividends |
|
757 |
|
891 |
|
934 |
|
1,693 |
|
1,665 |
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|
Earnings, as defined |
|
(77,235 |
) |
(68,325 |
) |
(50,530 |
) |
(89,215 |
) |
(87,362 |
) | |||||
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Fixed charges: |
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Interest expense |
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— |
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— |
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— |
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— |
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— |
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Estimated interest component of rent |
|
757 |
|
891 |
|
934 |
|
1,693 |
|
1,665 |
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Total Fixed Charges |
|
$ |
757 |
|
$ |
891 |
|
$ |
934 |
|
$ |
1,693 |
|
$ |
1,665 |
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Combined Fixed Charges and Preferred Stock Dividends: |
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Interest expense |
|
— |
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— |
|
— |
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— |
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— |
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Estimated interest component of rent |
|
757 |
|
891 |
|
934 |
|
1,693 |
|
1,665 |
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|
Preferred stock dividends |
|
— |
|
— |
|
— |
|
— |
|
— |
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Total Fixed Charges and Preferred Stock Dividends |
|
$ |
757 |
|
$ |
891 |
|
$ |
934 |
|
$ |
1,693 |
|
$ |
1,665 |
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Ratio of earnings to fixed charges ** |
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— |
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— |
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— |
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— |
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— |
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Ratio of earnings to combined fixed charges and preferred stock dividends ** |
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— |
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— |
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— |
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— |
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— |
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Deficiency of earnings available to cover fixed charges |
|
$ |
(77,992 |
) |
$ |
(62,216 |
) |
$ |
(51,464 |
) |
$ |
(90,908 |
) |
$ |
(89,027 |
) |
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Deficiency of earnings available to cover combined fixed charges and preferred stock dividends |
|
$ |
(77,992 |
) |
$ |
(62,216 |
) |
$ |
(51,464 |
) |
$ |
(90,908 |
) |
$ |
(89,027 |
) |
** Because of the deficiency of earnings available to cover fixed charges for the years ended December 31, 2017, 2016, 2015, 2014 and 2013, the ratio information for these periods is not applicable.