EX-12.1 4 trvn-2017q4ex121.htm EXHIBIT 12.1
Exhibit 12.1
TREVENA, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

| 2013 |  | 2014 |  | 2015 |  | 2016 |  | 2017
| (in thousands)
Determination of earnings |  |  |  |  |  |  |  |  |
Income/(loss) before income taxes | $ | (23,251 | ) |  | $ | (49,701 | ) |  | $ | (50,528 | ) |  | $ | (102,994 | ) |  | $ | (71,865 | )
Add: |  |  |  |  |  |  |  |  |
Fixed Charges | 303 |  |  | 234 |  |  | 531 |  |  | 1,927 |  |  | 3,232 |
Total Earnings/(loss) | (22,948 | ) |  | (49,467 | ) |  | (49,997 | ) |  | (101,067 | ) |  | (68,633 | )
Fixed charges: |  |  |  |  |  |  |  |  |
Interest expense and amortization of debt discount and deferred financing costs | 150 |  |  | 71 |  |  | 334 |  |  | 1,738 |  |  | 2,781 |
Estimated interest component of rent expense | 153 |  |  | 163 |  |  | 197 |  |  | 189 |  |  | 541 |
Total fixed charges | 303 |  |  | 234 |  |  | 531 |  |  | 1,927 |  |  | 3,322 |
Ratio of earnings to fixed charges(1) |  |  |  |  |  |  |  |  |
Deficiency of earnings to cover fixed charges | $ | 23,251 |  |  | $ | 49,701 |  |  | $ | 50,528 |  |  | $ | 102,994 |  |  | $ | 71,865 |

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(1) For all periods presented, no ratios are provided as earnings were insufficient to cover fixed charges.