Study of Postoperative Analgesia in Bunionectomy

Inclusion Criteria: * Age ≥ 18 years at the Screening visit * Scheduled to undergo primary unilateral first metatarsal osteotomy without hammertoe * Female subjects must be surgically sterile or at least two years menopausal, or using an acceptable method of birth control. If of childbearing potential, have a documented negative blood or urine pregnancy test within 24 hours before surgery * Clinical laboratory values less than or equal to twice the upper limit of normal or, if abnormal, deemed not clinically significant per the Investigator * Ability to provide informed consent, adhere to the study visit schedule and complete all study assessments Exclusion Criteria: * Currently pregnant, nursing, or planning to become pregnant during the study or within one month after study drug administration * Chronic user of analgesic medications, including taking opioid medications for more than 14 days in the last 3 months, or non-opioid pain medications more than 5 times per week * Use of any non-steroidal anti-inflammatory drug (NSAID) including selective COX-2 inhibitor within three days of surgery * Use of acetaminophen within 24 hours of surgery * Use of selective serotonin reuptake inhibitors (SSRIs), gabapentin, pregabalin (Lyrica), duloxetine (Cymbalta) within three days of surgery * Current use of systemic glucocorticosteroids or use of systemic glucocorticoids within one month of enrollment into this study * Peripheral neuropathy including diabetic neuropathy, chemotherapy-induced neuropathy, HIV neuropathy * History of hepatitis * History of, suspected, or known addiction to or abuse of drugs or alcohol within the past two years * Failure to pass urine drug screen * Current evidence of alcohol abuse (greater than 4 units of alcohol per day: 1 unit = ½ pint of beer, 1 glass of wine or 1 oz. of spirits) * Evidence of peripheral ischemic disease * Type I or Type II diabetes * Current acute or chronic medical or major psychiatric disease that, in the opinion of the Investigator, would interfere with the evaluation of study drug efficacy or safety * Malignancy in the last 2 years, with the exception of non-metastatic basal cell or squamous cell carcinoma of the skin or localized carcinoma in situ of the cervix * Administration of an investigational drug within 30 days prior to study drug administration, or planned administration of another investigational product or procedure during the subject's participation in this study * Previous participation in a SKY0402 study * Significant medical conditions or laboratory results that, in the opinion of the Investigator, indicate an increased vulnerability to study drugs and procedures * Current painful physical conditions or concurrent surgery other than bunionectomy that may require analgesic treatment (such as NSAID or opioid) in the postoperative period for pain that is not strictly related to the bunionectomy procedure and may confound the postoperative assessments