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                                                                      EXHIBIT 11

                               BIOFIELD CORP.
                        (A DEVELOPMENT STAGE COMPANY)
                             EARNINGS PER SHARE
                   CALCULATION OF SHARES USED IN COMPUTING
               NET LOSS PER COMMON AND COMMON EQUIVALENT SHARE
               -----------------------------------------------
<TABLE>
<CAPTION>
                                                                                      For the years ended December 31,     
                                                                                      --------------------------------     
                                                                                           1995              1996          
                                                                                      -------------      -------------     
                                                                                                                           
                                                                                                                           
<S>                                                                                   <C>                <C>               
Net loss  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .             $  (8,739,860)     $ (10,036,090)    
                                                                                      =============      =============     
                                                                                                                           
PRIMARY NET LOSS PER COMMON AND COMMON EQUIVALENT SHARE:

Weighted average number of common and common equivalent shares outstanding (1).                              5,369,996 
                                                                                                        ==============   
Primary net loss per common and common equivalent share . . . . . . . . .                               $        (1.87)  
                                                                                                        ==============   
                                                                                                                         
                                                                                                                         
FULLY-DILUTED NET LOSS PER COMMON AND COMMON EQUIVALENT SHARE:                                                           
                                                                                                                         
Weighted average number of common and common equivalent shares outstanding (1)                               6,044,233   
                                                                                                        ==============   
Fully-diluted net loss per common and common equivalent share . . . . . .                               $        (1.66)  
                                                                                                        ==============   


PRO FORMA PRIMARY AND FULLY-DILUTED NET LOSS PER COMMON AND COMMON
   EQUIVALENT SHARE:

Pro forma weighted average number of common and common equivalent shares
   outstanding (2)  . . . . . . . . . . . . . . . . . . . . . . . . . . .                 3,183,295
                                                                                     
Plus:  Incremental shares (3) . . . . . . . . . . . . . . . . . . . . . .                   550,002    
                                                                                      -------------
Pro forma weighted average number of common and common equivalent shares
   outstanding (4)  . . . . . . . . . . . . . . . . . . . . . . . . . . .                 3,733,297 
                                                                                      =============                              
Pro forma primary and fully-diluted net loss per common and common equivalent
   share  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .             $       (2.34)
                                                                                      =============
</TABLE>


(1)   Upon the closing date of the Company's Initial Public Offering ("IPO"),
      March 22, 1996, all shares of Series A, Series B and Series C
      Convertible Preferred Stock automatically converted into shares of
      Common Stock.  The 1996 primary net loss per common and common
      equivalent share is  computed based upon the actual conversion date of
      the Company's convertible preferred stock, March 22,  1996.  The 1996
      fully-diluted net loss per common and common equivalent share assumes
      conversion of the convertible preferred stock as of January 1, 1996.

(2)   The calculation of the pro forma weighted average number of common and
      common equivalent shares outstanding includes approximately 2,823,762
      shares of convertible preferred stock, excluding shares issued subsequent
      to January 31, 1995, which converted into approximately 1,617,732 shares
      of Common Stock immediately upon the closing of the IPO, as if they were
      converted to Common Stock as of the original dates of issuance.

(3)   All common stock equivalents issued within 12 months of the IPO at a
      price per share less than the offering price ($11.00) are considered to
      be outstanding, using the treasury stock method.  Accordingly, all common
      stock equivalents issued subsequent to January 31, 1995 at a price per 
      share below $11.00 are considered to be outstanding for all of 1995.

(4)   The effect of the assumed exercise of stock options, warrants and other
      potentially dilutive securities which were issued more than 12 months
      prior to the initial filing of the registration statement in connection
      with the Company's IPO is not included in the pro forma weighted average
      number of common and common equivalent  shares outstanding because the
      effect is anti-dilutive.