Exhibit 99.1

1440 Davey Road Woodridge, IL  60517 Phone: 630-739-6744 Fax: 630-739-6754 www.advancedlifesciences.com

 

For Immediate Release

Investor Relations Contact: Edward P. Flavin (630) 739-6744

Advanced Life Sciences Announces Fourth Quarter and Full Year
 2006 Results

Enrollment in first of two pivotal phase III trials for cethromycin completed

WOODRIDGE, IL, March 21, 2007/PRNewswire/

: — Advanced Life Sciences Holdings, Inc. (Nasdaq: ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer and inflammation, today announced its financial results for the fourth quarter and full year ended December 31, 2006.

The net loss allocable to common shareholders for the three months ended December 31, 2006 was $5.9 million or ($.21) per share compared to a net loss allocable to common shareholders of $2.6 million or ($.15) per share for the three months ended December 31, 2005.  The net loss allocable to common shareholders for the full year 2006 was $20.7 million or ($.78) per share compared to a net loss allocable to common shareholders of $6.6 million or ($.49) per share for 2005.  The increase in the net loss for both periods is due to increasing costs involved in the ongoing clinical development of the Company’s lead compound cethromycin.

“During 2006, Advanced Life Sciences initiated 200 clinical sites in 16 countries and made substantial progress in the enrollment of our two phase III clinical trials for cethromycin in community acquired pneumonia (CAP),” said Michael T. Flavin, Ph.D., chairman and chief executive officer of the Company.  “In addition, during this past year, we set the stage for a timely and robust NDA submission and commercial partnership negotiations to insure a successful market launch of cethromycin. The competitive landscape has narrowed due to patent expirations and regulatory changes, creating an increased market opportunity for cethromycin.”

“We are looking forward to the achievement of key clinical and commercial milestones in 2007,” continued Dr. Flavin.  “In conjunction with this we are pleased to announce the completion of enrollment for one of our two pivotal phase III clinical trials and we expect enrollment in our second trial to finish in the near future,”

The Company ended 2006 with cash, cash equivalents and investments totaling approximately $27.1 million.  Cash used was $5.0 million in the fourth quarter and $21.8 million for the full year period.

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