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                                                                   EXHIBIT 11.1


                              ILEX ONCOLOGY, INC.
                       COMPUTATION OF NET LOSS PER SHARE
                    (In Thousands, Except Per Share Amount)


<TABLE>
<CAPTION>
                                                                               Three Months Ended       Six Months Ended
                                                                                    June 30,                June 30,
                                                                                1996        1997        1996        1997
                                                                              --------    --------    --------    --------
<S>                                                                           <C>         <C>         <C>         <C>      
Net Loss ..................................................................   $   (574)   $ (1,325)   $   (990)   $ (1,793)
Weighted average number of shares of Common Stock and Common Stock
equivalents outstanding:
Weighted average number of shares of Common Stock outstanding .............      1,188      11,880       1,188      11,077
Common Stock equivalents applicable to convertible preferred stock(1) .....      6,093           0       6,093           0
Weighted average number of Common Stock equivalents applicable to stock
options and warrants(1) ...................................................        939         679         939         644
Common Stock and Common Stock equivalents .................................      8,220      12,559       8,220      11,721
Net loss per share - primary ..............................................   $  (0.07)   $  (0.11)   $  (0.12)   $  (0.15)

Net Loss ..................................................................   $   (574)   $ (1,325)   $   (990)   $ (1,783)
Weighted average number of shares of Common
  Stock and Common Stock equivalents outstanding:
Weighted average number of shares of Common
  Stock outstanding .......................................................      1,188      11,880       1,188      11,077
Common Stock equivalents applicable to
  convertible preferred stock(1) ..........................................      6,093           0       6,093           0
Weighted average number of Common Stock equivalents
  applicable to stock options and warrants(1) .............................        939         718         939         667
                                                                              --------    --------    --------    --------
Common Stock and Common Stock equivalents, assuming
 full dilution ............................................................      8,206      12,598       8,213      11,744

Net loss per share - fully diluted(2) .....................................   $  (0.07)   $  (0.11)   $  (0.12)   $  (0.15)
</TABLE>

(1)  Convertible stock, stock options and stock warrants issued within one year
     prior to an initial public offering with a conversion price or exercise
     price below the estimated initial public offering price has been included
     as outstanding for all periods specified by SAB No. 83 (Topic 4-D).

(2)  This calculation is submitted in accordance with Item 601(b)11 of
     regulation S-K although it is not required by APB Opinion No. 15 because
     it results in dilution of less than 3% or is antidilutive.


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