EXHIBIT 11.1 TITAN PHARMACEUTICALS, INC. (A DEVELOPMENT STAGE COMPANY) STATEMENT OF COMPUTATION OF NET INCOME (LOSS) PER SHARE
THREE MONTHS ENDED SEPTEMBER 30, NINE MONTHS ENDED SEPTEMBER 30, -------------------------------- ------------------------------- 1996 1997 1996 1997 -------------- --------------- ------------- ------------- (unaudited) (unaudited) Net loss $ (2,787,889) $ (3,831,267) $ (8,888,174) $ (12,772,756) Deemed dividend upon conversion of preferred stock - - (5,431,871) - ------------- ------------- ------------- -------------- Net loss applicable to common stock (2,787,889) (3,831,267) (14,320,045) (12,772,756) ------------- ------------- ------------- -------------- ------------- ------------- ------------- -------------- ------------- ------------- ------------- -------------- Shares used in computing net loss per share 11,792,738 13,046,102 10,463,149 12,996,635 ------------- ------------- ------------- -------------- ------------- ------------- ------------- -------------- ------------- ------------- ------------- -------------- ------------- ------------- ------------- -------------- Net income (loss) per share $ (0.24) $ (0.29) $ (1.37) $ (0.98) ------------- ------------- ------------- -------------- ------------- ------------- ------------- --------------