TREVENA INC - FORM 10-K - EX-12.1 - March 9, 2016

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Exhibit 12.1

TREVENA, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
   2011   2012   2013   2014   2015  

Determination of earnings

                                

Income/(loss) before income taxes

   $ (15,810,004 ) $ (15,635,658 ) $ (23,251,435 ) $ (49,700,875 ) $ (50,528,240 )

Add:

                                

Fixed Charges

     215,036     339,798     302,852     233,920     530,952  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total Earnings/(loss)

     (15,594,968 )   (15,295,860 )   (22,948,583 )   (49,466,955 )   (49,997,288 )
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Fixed charges:

                                

Interest expense and amortization of debt discount and deferred financing costs

     74,217     193,740     149,756     70,650     334,365  

Estimated interest component of rent expense

     140,819     146,058     153,096     163,270     196,587  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total fixed charges

     215,036     339,798     302,852     233,920     530,952  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ratio of earnings to fixed charges(1)

                                
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Deficiency of earnings to cover fixed charges

   $ 15,810,004   $ 15,635,658   $ 23,251,435   $ 49,700,875   $ 50,528,240  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
(1)
For all periods presented, no ratios are provided as earnings were insufficient to cover fixed charges.



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