Form: 10-Q

Quarterly report pursuant to Section 13 or 15(d)

August 14, 1996

Documents

EXHIBIT 11

Published on August 14, 1996





Exhibit 11

CYTOCLONAL PHARMACEUTICS INC.


COMPUTATION OF NET (LOSS) PER COMMON SHARE (2)
(unaudited)







Three Months Six Months
Ended June 30, Ended June 30,
1995 1996 1995 1996
--------- ---------- ------------ -----------

Net (loss) ($667,000) ($663,000) ($1,432,000) ($1,320,000)

Add cumulative preferred dividend (79,000) (80,000) (159,000) (160,000)
--------- ---------- ------------ -----------

NET (LOSS) USED FOR COMPUTATION ($746,000) ($743,000) ($1,591,000) ($1,480,000)
========= ========== ============ ===========
Weighted average number of
common shares outstanding 5,220,000 7,636,785 5,220,000 7,603,193
--------- ---------- ------------ -----------
Shares issuable upon exercise of stock
options and warrants, net of shares
assumed to be repurchased (1) 147,415 0 147,415 0
--------- ---------- ------------ -----------

Shares used for computation 5,367,415 7,636,785 5,367,415 7,603,193
========= ========== ============ ===========
Net (loss) per common share ($0.14) ($0.10) ($0.30) ($0.19)
========= ========== ============ ===========




Notes and Assumptions:

(1) The Company issued common stock and common stock equivalents for
consideration below the initial public offering price of $5.00.
Consequently, in accordance with Staff Accounting Bulletin 83 (during
the periods covered by statements of operation included in the
registration statement) the following methodology was used in
determining weighted average shares outstanding:

Stock issued in a one year period immediately prior to the
offering was treated as outstanding for the entire period and
repurchase of shares using the treasury stock method at an
offering price of $5.00.

(2) Adjusted to reflect retroactively, a 1 for 2.5 reverse stock split
effected on August 2, 1995.