Exhibit 12.1
 
TREVENA, INC.
 
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
 
2013
 
2014
 
2015
 
2016
 
2017
 
(in thousands)
Determination of earnings
 
 
 
 
 
 
 
 
 
Income/(loss) before income taxes
$
(23,251
)
 
$
(49,701
)
 
$
(50,528
)
 
$
(102,994
)
 
$
(71,865
)
Add:
 
 
 
 
 
 
 
 
 
Fixed Charges
303

 
234

 
531

 
1,927

 
3,232

Total Earnings/(loss)
(22,948
)
 
(49,467
)
 
(49,997
)
 
(101,067
)
 
(68,633
)
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense and amortization of debt discount and deferred financing costs
150

 
71

 
334

 
1,738

 
2,781

Estimated interest component of rent expense
153

 
163

 
197

 
189

 
541

Total fixed charges
303

 
234

 
531

 
1,927

 
3,322

Ratio of earnings to fixed charges(1)
 
 
 
 
 
 
 
 
 
Deficiency of earnings to cover fixed charges
$
23,251

 
$
49,701

 
$
50,528

 
$
102,994

 
$
71,865

____________________________________________
(1)    For all periods presented, no ratios are provided as earnings were insufficient to cover fixed charges.