Exhibit 11
TITAN PHARMACEUTICALS, INC.
(a development stage company)
STATEMENT OF COMPUTATION OF NET LOSS PER SHARE
Three Months Ended Six Months Ended
June 30, June 31,
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1995 1996 1995 1996
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(unaudited) (unaudited)
Net loss $ (3,138,005) $ (2,685,447) $ (5,877,940) $ (6,100,363)
Deemed dividend upon
conversion of preferred stock 0 0 -- (5,431,871)
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Net loss applicable to
common stock (3,138,005) (2,685,447) (5,877,940) (11,532,234)
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Weighted average shares of
common stock outstanding 1,408,519 10,757,940 1,408,519 9,791,050
Shares related to Staff Accounting
Bulletin topic 4D:
Stock options and warrants 897,836 -- 897,836 --
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Shares used in computing net loss 2,306,355 10,757,940 2,306,355 8,824,159
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Net loss per share $ (1.36) $ (.025) $ (2.25) $ (1.18)
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Pro Forma
Net Loss applicable to
common stock $ (3,138,005) $ (5,877,940)
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Calculation of shares outstanding
for computing pro forma net loss
per share:
Shares used used in computing
net loss per share 2,306,355 2,306,355
Adjusted to reflect the effect
of assumed conversion of
preferred stock 5,215,684 4,922,183
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Shares used in computing pro
forma loss per share 7,522,039 7,229,183
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Pro forma net loss per share $ (0.42) $ (.81)
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