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Exhibit 11.1



                               CV THERAPEUTICS, INC.

                 Statement of Computation of Net Loss Per Share
                 (In thousands, except net loss per share data)


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<CAPTION>
                                                                         Three Months Ended             Nine Months Ended
                                                                            September 30,                 September 30,
                                                                        1997           1996           1997           1996
                                                                     ----------     ----------     ----------     ----------
<S>                                                                 <C>            <C>            <C>            <C>
Net loss                                                             $  (2,673)     $  (2,971)     $  (7,798)     $  (8,367)

Historical:
  Weighted average common stock outstanding                              7,010            406          6,755            386
  Shares related to Staff Accounting Bulletin Nos. 55, 64 and 83:
    Stock options                                                           -             340             -             340
    Warrants                                                                -             965             -             965
                                                                     ----------     ----------     ----------     ----------
  Total shares used in calculating net loss per share                    7,010          1,711          6,755          1,691
                                                                     ----------     ----------     ----------     ----------
                                                                     ----------     ----------     ----------     ----------

Net loss per share                                                    $  (0.38)      $  (1.74)      $  (1.15)      $  (4.95)
                                                                     ----------     ----------     ----------     ----------
                                                                     ----------     ----------     ----------     ----------

Pro forma:
  Shares used in calculating net loss per share (per above)                             1,711                         1,691
  Preferred stock if-converted                                                          3,238                         3,017
                                                                                    ----------                    ----------
Total shares used in calculating pro forma net loss per share                           4,949                         4,708
                                                                                    ----------                    ----------

Pro forma net loss per share                                                         $  (0.60)                     $  (1.78)
                                                                                    ----------                    ----------
                                                                                    ----------                    ----------
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