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Metabasis diabetes treatment candidate meets study goals

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April 28, 2008

SAN DIEGO—Biotechnology company Metabasis Therapeutics Inc. said Monday its type 2 diabetes treatment candidate met both effectiveness and safety goals in a midstage study.

The study involved 105 patients receiving either placebo or one of four doses of the drug candidate MB07803 over the course of 28 days. Metabasis said it will present full results from the Phase IIa clinical trial at scientific conference later this year.

Shares of Metabasis fell 8 cents, or 3.3 percent, to $2.35 in morning trading. The stock has traded between $1.40 and $8.37 over the last 52 weeks.

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