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)
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NET (LOSS) USED FOR COMPUTATION ($746,000) ($743,000) ($1,591,000) ($1,480,000)
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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.