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Exhibit 11 Titan Pharmaceuticals, Inc. (A Development Stage Company) Statement of Computation of Net Loss Per Share <table> Three Months Ended March 31, 1995 1996 <s> <c> <c> Net Loss $ (2,739,935) $ (3,424,769) Deemed Dividend Upon Conversion of Preferred Stock - (5,431,871) Net Loss Applicable to Common Stock (2,739,935) (8,856,640) ================== =================== Weighted Average Shares of Common Stock Outstanding 1,408,519 8,824,159 Shares Related to Staff Accounting Bulletin Topic 4d: Stock Options and Warrants 897,836 - Shares Used in Computing Net Loss Per Share 2,306,355 8,824,159 ================== =================== Net Loss Per Share $ (1.19) $ (1.00) ================== =================== Pro Forma Net Loss Applicable to Common Stock $ (2,739,935) $ (8,856,640) ================== =================== Calculation of Shares Outstanding for Computing Pro Forma Net Loss Per Share: Shares Used in Computing Net Loss Per Share 2,306,355 8,824,159 Adjusted to Reflect the Effect of the Assumed Conversion of Preferred Stock 4,922,183 9,916,250 Shares Used in Computing Pro Forma Net Loss Per Share 7,229,183 9,916,250 ================== =================== Pro Forma Net Loss Per Share $ (0.38) $ (0.89) ================== =================== </Table>
