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Exhibit 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges and Ratio of Combined Fixed Charges and Preferred Stock Dividends to Earnings
(In thousands)
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
2012
 
2011
 Earnings:
 
 
 
 
 
 
 
 
 
   Consolidated net loss before income tax
$
(141,447
)
 
$
(162,141
)
 
$
(116,389
)
 
$
(83,132
)
 
$
(53,961
)
   Loss on equity method investment
22,389

 
23,037

 
8,237

 
1,824

 
—

   Fixed charges
16,535

 
16,535

 
9,911

 
978

 
764

  Capitalized interest, net of amortization
—

 
(620
)
 
(1,055
)
 
(273
)
 
—

Total losses
$
(102,523
)
 
$
(123,189
)
 
$
(99,296
)
 
$
(80,603
)
 
$
(53,197
)
Fixed charges:
 
 

 
 
 
 
 
 
   Interest expense
$
14,160

 
$
14,097

 
$
8,191

 
$
834

 
$
642

   Debt fees
—

 
465

 
541

 
—

 
13

   Debt discount
2,375

 
1,973

 
1,179

 
144

 
109

Total fixed charges
$
16,535

 
$
16,535

 
$
9,911

 
$
978

 
$
764

Ratio of Earnings to Fixed Charges
—

 
—

 
—

 
—

 
—

Deficiency of Earnings Available to Cover Fixed Charges
$
(119,058
)
 
$
(139,724
)
 
$
(109,207
)
 
$
(81,581
)
 
$
(53,961
)