Safety and Tolerability Study of MBX-2044 in Patients With Type 2 Diabetes

Inclusion Criteria: * Type 2 diabetes previously controlled with up to one or two non-TZD hypoglycemic agents including sulfonylureas (e.g., glyburide, glipizide, glimeprimide), meglitinides (e.g., Prandin®, Starlix®), metformin (e.g., Glucophage®), α-glucosidase inhibitors (e.g.,acarbose, miglitol) or Byetta® * All female patients must be either surgically sterile or post-menopausal. * Male patients with female partners of childbearing potential must agree to use condoms, or their partner must use a medically acceptable form of contraception. * BMI 24-44 kg/m2. * Patients must have a FPG ≤ 200 mg/dL at screening. * Patients must have Hemoglobin A1c ≥ 6.5%, ≤ 10.0% at screening. * Electrocardiogram (ECG) and chest x-ray must be normal, or considered not clinically significant, for participation in this study. * Patients must have a blood pressure ≤ 160/90 mm/hg including hypertensive patients controlled with medication. Exclusion Criteria: * History of Type 1 diabetes or diabetes secondary to pancreatitis or pancreatectomy. * History of TZD use (Actos or Avandia) within 6 months of Screening Visit. * History of TZD discontinuation due to lack of efficacy. * History of congestive heart failure within last 5 years. * History of significant pulmonary disease, myocardial infarction, cerebrovascular accident, or nephrotic syndrome within last 1 year. * Malignancy within the last 5 years (except resected basal cell carcinoma). * Ongoing active infection. * Change in treatment with lipid-lowering agent within 7 days of screening visit. * Current or expected requirement for anticoagulant therapy \[except for low-dose aspirin ≤ 325 mg/d or Plavix® ≤ 75 mg/d\]. * Current or expected treatment with phenytoin for the duration of the study. * Known hypersensitivity to NSAIDs.