A Phase II, Study To Evaluate The Efficacy And Safety Of PH-797804 In Adults With Moderate To Severe Chronic Obstructive Pulmonary Disease (COPD).

Inclusion Criteria: * Male or female subjects between, and including, the ages of 40 and 80 years. * Subjects with a diagnosis, for at least 6 months, of moderate to severe COPD (GOLD) and who meet the criteria for Stage II-III disease, subjects must have had stable disease for at least 1 month prior to screening. * Subjects must have a smoking history of at least 10 pack-years and be current smokers or ex-smokers that gave up \> 6 months ago. Exclusion Criteria: * More than 2 exacerbations of COPD requiring treatment with oral steroids in the preceding year or hospitalization for the treatment of COPD within 3 months of screening or more than twice during the preceding year. * History or presence of significant cardiovascular disease. * ECG abnormalities. * Significant concomitant clinical disease that could interfere with the conduct, safety or interpretation of results of this study. * Evidence of organ or blood disorders.