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.