NEEDHAM, Mass.--(BUSINESS WIRE)--AVANT Immunotherapeutics, Inc. (Nasdaq: AVAN) today reported financial results for the fourth quarter and year ended December 31, 2006. AVANT reported a net loss of $6.2 million, or $0.08 per share, for the fourth quarter of 2006 compared to a net loss of $4.0 million, or $0.05 per share, for the fourth quarter of 2005. For the twelve months ended December 31, 2006, the net loss was $20.4 million, or $.27 per share, compared with a net loss of $18.1 million, or $.24 per share, for the twelve months of 2005. As discussed in more detail later in this release, the increase in net loss between twelve-month periods was due to increased operating expenses, offset partially by increased revenues and increased investment and other income. At December 31, 2006, AVANT reported cash and cash equivalents of $40.9 million.
