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There’s been more news recently out of San Diego’s Metabasis Therapeutics, but none of it can be called good news.

CEO Mark Erion resigned last week to take a job at Merck & Co. And, as Xconomy reported, the company just hired a financial advisory firm to help it “evaluate its strategic options.”

The company does not seem to have many options. As we reported in July, it has had to lay off almost all of its employees. Things were so dire that the company did not have enough money in the bank on the day of the layoff to pay all the employees they laid off their last paycheck.

DAVID WASHBURN

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