Dendreon Corporation

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Ratio of Earnings to Fixed Charges (in thousands) |
2008 |
2007 |
2006 |
2005 |
2004 |
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Earnings |
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Loss before taxes |
(71,644 | ) | (99,264 | ) | (91,642 | ) | (81,547 | ) | (76,802 | ) | ||||||||||

Add: Fixed Charges |
7,210 | 5,888 | 3,532 | 2,157 | 2,871 | |||||||||||||||

Less: Capitalized Interest |
586 | 229 | 1,536 | — | — | |||||||||||||||

Total Earnings (as defined) |
(65,020 | ) | (93,605 | ) | (89,646 | ) | (79,390 | ) | (73,931 | ) | ||||||||||

Fixed Charges |
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Interest expense |
4,685 | 3,828 | 252 | 346 | 255 | |||||||||||||||

Capitalized Interest |
586 | 229 | 1,536 | — | — | |||||||||||||||

Amortization of debt issuance costs |
471 | 278 | 84 | 5 | — | |||||||||||||||

Total Interest Expensed and Capitalized |
5,742 | 4,335 | 1,872 | 351 | 255 | |||||||||||||||

One-third of rental expense, net of sublease income |
1,468 | 1,553 | 1,660 | 1,806 | 2,616 | |||||||||||||||

Total Fixed Charges |
7,210 | 5,888 | 3,532 | 2,157 | 2,871 | |||||||||||||||