Study of LAU-7b in the Treatment of Cystic Fibrosis in Adults

Inclusion Criteria: * Screening FEV1 between 40% and 100% predicted value for age, gender and height, in patients capable of properly performing the test; * History of pulmonary exacerbation, defined as at least one (1) pulmonary exacerbation in the year prior to Screening which resulted in documented intravenous or Oral antibiotics; * Patients are eligible independently of their history of pulmonary Pseudomonas aeruginosa (PsA) infection and their PsA status at screening; * If taking Kalydeco® (ivacaftor), Orkambi® (ivacaftor/lumacaftor), Symdeko® (ivacaftor/tezacaftor) or other commercially available CFTR modulator products, patients must be taking it for a minimum of 3 months prior to screening if naïve to CFTR modulators and 1 month if switched from another CFTR modulator product and deemed to tolerate it; * No change in CF and allowed systemic chronic therapy for a minimum of 5 weeks prior to randomization, of which 2 weeks minimum are prior to screening; * Female patients of child bearing potential should be on highly effective contraceptive methods during the study; * Male patients with spouse or partner of child bearing potential, or pregnant, are eligible if they use an appropriate method of contraception. Exclusion Criteria: * Pregnancy: due to the potential teratogenic effects of retinoids, pregnant women are NOT eligible; * Breast milk feeding by study patient is NOT allowed; * Clinically abnormal renal function: serum creatinine \> 132 μM (1.5 mg/dL); * Clinic…