A Phase II Study in Patients With Moderate to Severe ARDS Due to COVID-19

Inclusion Criteria: * Laboratory-confirmed diagnosis of COVID-19 \<= 14 days prior to randomization * The presence of moderate to severe Acute Respiratory Distress Syndrome (ARDS) as defined by the Berlin Definition: 1. Bilateral chest radiograph infiltrates. 2. PaO2:FiO2 ratio of less than 200. 3. Absence of other clinical conditions that could present in a similar manner (non-infectious pneumonitis, cardiogenic pulmonary edema) * Absence of moribund state that would indicate imminent demise and poor chance of survival. Exclusion Criteria: * Females of childbearing potential who are pregnant or unwilling to undergo pregnancy testing; females with a positive pregnancy test on screening day will be excluded. * Breastfeeding mothers * Patients on ECMO * Receiving concurrent treatment with an investigational agent in a clinical trial. * Exception: Use of COVID-19 convalescent plasma is permitted. * More than 72hrs on mechanical ventilation before randomization * Receiving concurrent investigational vaccine