ÄÐÈ˹¬µî

Form: 10QSB

Optional form for quarterly and transition reports of small business issuers

November 13, 1997

EXHIBIT 11

Published on November 13, 1997



EXHIBIT 11

CYTOCLONAL PHARMACEUTICS INC.

COMPUTATION OF NET (LOSS) PER COMMON SHARE
(unaudited)


THREE MONTHS NINE MONTHS
ENDED SEPTEMBER 30, ENDED SEPTEMBER 30,
1996 1997 1996 1997
----------- ------------ ------------ ------------

Net (loss) $ (808,000) $ (945,000) $(2,128,000) $(2,462,000)

Add cumulative preferred dividend (79,000) (69,000) (238,000) (207,000)
---------- ----------- ----------- -----------

NET (LOSS) USED FOR COMPUTATION $ (887,000) $(1,014,000) $(2,366,000) $(2,669,000)
---------- ----------- ----------- -----------
---------- ----------- ----------- -----------

Weighted average number of
common shares outstanding 7,687,000 8,261,000 7,631,000 8,136,000
---------- ----------- ----------- -----------
---------- ----------- ----------- -----------

Net (loss) per common share $(0.12) $(0.12) $(0.31) $(0.33)
---------- ----------- ----------- -----------
---------- ----------- ----------- -----------









11