Pharmacokinetics of PN-232 in Healthy Volunteers

Part 1: Approximately 32 subjects will be enrolled into 4 cohorts to receive PN-232 or placebo as single doses.

Part 2: Up to 40 subjects will be enrolled into 4 cohorts to receive PN-232 or placebo once daily for 10 days.

Part 3: Twelve subjects will receive single doses of PN-232 in a 3-way, randomized, crossover fashion.

In total, approximately 84 subjects will participate.

Key Inclusion Criteria:

• Subjects must have BMI between 18 and 32 kg/m2
• Subjects must be non-smokers or social smokers
• Subjects must comply with contraception requirements
• Subjects must be willing to consume meals provided by the clinical center
• Subjects must be willing to attend required clinic visits
• Subjects must be suitable candidates for study procedures

Key Exclusion Criteria:

• Subject with a history of clinically significant endocrine, neurological, cardiovascular, hematological, hepatic, immunological, renal, respiratory, gastrointestinal or genitourinary abnormalities or diseases within previous 10 years
• Subjects with a history of surgical resection of the stomach, small or large intestine
• Subjects with a fever or symptomatic viral or bacterial infection within 2 weeks of screening or intestinal infection within 30 days prior to screening
• Subjects with clinically significant laboratory abnormalities
• Subjects with corrected QT greater than 450 msec in males and 470 msec in females
• Subjects who test positive for Hepatitis C or B, or HIV at Screening
• Subjects who cannot refrain from use of prescription and non-prescription drugs and herbal remedies prior to initial dose of study drug and throughout the study
• Subjects who test positive for drugs of abuse or alcohol at Screening