Proof of Concept Study Comparing FX006 to Kenalog®-40 in Patients With Post-Traumatic Osteoarthritis of the Knee

Inclusion Criteria: * Willingness and ability to comply with the study procedures and visit schedules and ability to follow verbal and written instructions * Male or female ≥20 and ≤50 years of age * Diagnosis of post-traumatic OA of the knee * Kellgren-Lawrence (K-L) Grade 2 or 3 in the index knee within 6 months prior to or at Screening * Qualifying mean score on the 24-h average pain score (0-10 numeric rating scale) * Body mass index (BMI) ≤ 40 kg/m2 * Willingness to abstain from use of restricted medications and therapies during the study Exclusion Criteria: * Prior osteotomy of the index knee * Any condition that could possibly confound the patient's assessment of index knee pain in the judgement of the Investigator (i.e., ipsilateral hip OA, gout, radicular low back pain and hip pain that is referred to the knee that could cause misclassifcation, pain in any other area of the lower extremeties or back that is equal to or greater than the index knee pain) * Fibromyalgia, Reiter's syndrome, rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, arthritis associated with inflammatory bowel disease * History of, or clinical signs and symptoms of active infection of the index knee * Crystal disease of the index knee within one month of Screening * Disease secondary to surgical treatment of Shatzker grade IV, V, or VI tibial plateau fractures (OTA classification C2 or C3); surgical treatment of OTA calssifcation C2 or C3 distal femur fractures; or \>2mm of articular incongruity after surgery * IA corticosteroid (investigational or marketed) in any joint within 3 months of Screening * IA hyaluronic acid (investigational or marketed) in the index knee within 6 months of Screening * Intramuscular (IM) or oral corticosteroids (investigational or marketed) within 1 month of Screening * Any other IA investigational drug/biologic within 6 months of Screening * Prior use of FX006 * Prior arthroplasty of any type of the index knee or planned/anticipated surgery of the index knee during the study period * Type 1 or Type 2 diabetes requiring insulin * Women of child-bearing potential not using effective contraception or who are pregnant or nursing