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Inclusion Criteria:

1. Has laboratory-confirmed SARS-CoV-2 infection as determined by polymerase chain reaction (PCR) or other commercial or public health assay in any specimen;
2. Moderate ARDS characterized by the following criteria:

   * Invasive mechanical ventilation with a minimum PEEP of 5 cm H2O;
   * PaO2/FiO2 ≤200 that may be estimated from pulse oximetry or determined by arterial blood gas;
   * No evidence of volume overload or heart failure;
3. The patient is ≥18 years of age at the time of consent;
4. QTcF interval ≤ 440 milliseconds;
5. A female patient of childbearing potential must not attempt to become pregnant for 39 months, and if sexually active with a male partner, is willing to practice acceptable methods of birth control for 39 months after the last dose of study drug;
6. A male patient who is sexually active with a female partner of childbearing potential is willing to practice acceptable methods of birth control for 39 months after the last dose of study drug. A male patient must not donate sperm for 39 months;
7. The patient is willing and able to, or has a legal authorized representative (LAR) who is willing and able to, provide informed consent to participate, and to cooperate with all aspects of the protocol.

Exclusion Criteria:

1. Expected survival or time to withdrawal of life-sustaining treatments expected to be \<7 days.
2. ECMO;
3. Suspected septic shock;
4. The patient has a history of:

   * Organ or hematologic transplant;
   * HIV;
   * Active hepatitis B or hepatitis C infection;
5. Current treatment with:

   * Chemotherapy;
   * Immunosuppressive medications or immunotherapy (see Section 5.3 for list of prohibited immunosuppressive medications and immunotherapy) at the time of consent;
   * Hemodialysis or Peritoneal Dialysis;
6. The patient is known to be pregnant or is nursing;
7. Currently participating in another study of an investigational drug or therapeutic medical device at the time of consent;
8. Allergy to eggs or any of the excipients in study drug.

• Chicago, Illinois, United States