Metabasis Therapeutics, Inc. (Nasdaq: MBRX), a biopharmaceutical company that has established an existing pipeline of product candidates and advanced discovery programs targeting large markets with significant unmet needs including hyperlipidemia, diabetes and HCV, today announced that it will hold a conference call to discuss the Company’s second quarter and six month financial results ended June 30, 2009.

Mark Erion, Ph.D., president, chief executive officer and chief scientific officer, and Tran Nguyen, M.B.A., vice president and chief financial officer will host the call beginning at 8:30am Eastern Time (5:30am Pacific Time) on Friday, August 7, 2009. A press release for the second quarter and six month financial results ended June 30, 2009 will be released after market close on August 6th.

To participate in the live call by telephone, please dial 800-291-5365 from the U.S. or 617-614-3922 for international callers. Please specify to the operator “Metabasis” when asked for a passcode. In addition, the live conference call is being webcast and can be accessed on the Metabasis website at www.mbasis.com, under the Investors section, and will be archived there for 30 days following the call. Please connect to the Metabasis website several minutes prior to the start of the call to ensure adequate time for any software download that may be necessary.

About Metabasis (www.mbasis.com):

Metabasis is a biopharmaceutical company that has established a broad pipeline of product candidates and advanced discovery programs targeting large markets with significant unmet needs. The Company’s product pipeline includes clinical-stage product candidates and advanced discovery programs for the treatment of metabolic diseases such as diabetes and hyperlipidemia, as well as product candidates and advanced discovery programs for the treatment of liver diseases such as hepatitis and primary liver cancer.

Investor Relations & Corporate Communications
Metabasis Therapeutics, Inc.
858-622-2223