Metabasis Announces Conference Call and Live Webcast to Discuss Second Quarter 2008 Financial Results

SAN DIEGO–(EMWNews)–Metabasis Therapeutics, (Nasdaq: MBRX) will announce its second quarter

2008 earnings results on Thursday, August 7, 2008, after markets close.

Following the earnings release, Metabasis will hold a conference call

and live webcast at 4:30 p.m. Eastern Time to discuss financial and

other business results. Dr. Paul Laikind, president and chief executive

officer and Mr. Dan Milles, senior director of finance, will participate

in the call. Dr. Howard Foyt, vice president of clinical development,

will also be available to answer questions.

The conference call may be accessed by dialing 866-825-3308 for domestic

callers and 617-213-8062 for international callers. Please specify to

the operator “Metabasis Therapeutics”

when asked for a passcode. The conference call will be webcast live 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 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 using its proprietary

technologies, scientific expertise and unique capabilities for targeting

the liver and liver pathways. The Company has established a broad

pipeline of product candidates and advanced research programs targeting

large markets with significant unmet needs. Metabasis’ core area of

focus is on the discovery and development of drug candidates to treat

metabolic diseases such as hyperlipidemia and diabetes, among others.

Although not a core focus of the Company, Metabasis has also discovered

and developed drug candidates indicated for the treatment of liver

diseases such as hepatitis and primary liver cancer, which it now

intends to license or partner. All product candidates were developed

internally using proprietary technologies.

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