Exhibit 12.1

 

TREVENA, INC.

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

    

2012

    

2013

    

2014

    

2015

    

2016

 

 

 

(in thousands)

 

Determination of earnings

 

 

 

 

 

 

 

 

 

 

 

Income/(loss) before income taxes

 

$
(15,636)

 

$
(23,251)

 

$
(49,701)

 

$
(50,528)

 

$
(102,994)

 

Add:

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

340 

 

303 

 

234 

 

531 

 

1,927 

 

Total Earnings/(loss)

 

(15,296)

 

(22,948)

 

(49,467)

 

(49,997)

 

(101,067)

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense and amortization of debt discount and deferred financing costs

 

194 

 

150 

 

71 

 

334 

 

1,738 

 

Estimated interest component of rent expense

 

146 

 

153 

 

163 

 

197 

 

189 

 

Total fixed charges

 

340 

 

303 

 

234 

 

531 

 

1,927 

 

Ratio of earnings to fixed charges(1)

 

 

 

 

 

 

 

 

 

 

 

Deficiency of earnings to cover fixed charges

 

$
15,636 

 

$
23,251 

 

$
49,701 

 

$
50,528 

 

$
102,994 

 


(1)

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