NEEDHAM, Mass.--(BUSINESS WIRE)--May 9, 2006--AVANT Immunotherapeutics, Inc. (Nasdaq: AVAN - News) today reported a net loss of $3.0 million, or $0.04 per share, for the first quarter of 2006 compared to a net loss of $4.9 million, or $0.07 per share for the first quarter of 2005. The decrease in net loss between periods primarily reflects an increase in product development and licensing revenue and product royalty revenue offset partly by higher operating expense. At March 31, 2006, AVANT reported cash and cash equivalents of $59.8 million.
