EXHIBIT 11.1 TITAN PHARMACEUTICALS, INC. (A DEVELOPMENT STAGE COMPANY) STATEMENT OF COMPUTATION OF NET LOSS PER SHARE
THREE MONTHS ENDED MARCH 31, ------------------------------- 1996 1997 -------------- --------------- (unaudited) Net loss $ (3,424,769) $ (13,158,566) Deemed dividend upon conversion of preferred stock (5,431,871) - -------------- --------------- Net loss applicable to common stock $ (8,856,640) $ (13,158,566) -------------- --------------- -------------- --------------- Weighted average shares of common stock outstanding 8,824,159 12,897,703 -------------- --------------- -------------- --------------- Net loss per share $ (1.00) $ (1.02) -------------- --------------- -------------- --------------- PRO FORMA Net loss applicable to common stock $ (8,856,640) $ (13,158,506) -------------- --------------- -------------- --------------- Calculation of shares outstanding for Computing pro forma net loss per share: Shares used in computing net loss per share 8,824,159 - Adjusted to reflect the effect of the Assumed conversion of preferred stock 1,092,091 - -------------- --------------- Shares used in computing pro forma net loss per share 9,916,250 12,897,703 -------------- --------------- -------------- --------------- Net loss per share $ (0.89) $ (1.02) -------------- --------------- -------------- ---------------
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