NEEDHAM, Mass.--(BUSINESS WIRE)--AVANT Immunotherapeutics, Inc. (Nasdaq: AVAN) today reported financial results for the fourth quarter and year ended December 31, 2007. AVANT reported a net loss of $5.3 million, or $0.07 per share, for the fourth quarter of 2007 compared to a net loss of $6.2 million, or $0.08 per share, for the fourth quarter of 2006. For the twelve months ended December 31, 2007, the net loss was $21.6 million, or $0.29 per share, compared with a net loss of $20.4 million, or $0.27 per share, for the twelve months of 2006. As discussed in more detail later in this release, the increase in net loss between the twelve-month periods was due to increased operating expenses and decreased investment and other income, offset partially by increased revenues. At December 31, 2007, AVANT reported cash and cash equivalents of $15.7 million.
