Study of IW-1701, A Stimulator of Soluble Guanylate Cyclase (sGC), in Patients With Type I or II Achalasia

Inclusion Criteria:

- Patient has a diagnosis of primary Type I or II achalasia.

- Patient has no contraindications to the performance of the baseline and postdose HRIM
procedures per Investigator discretion.

Exclusion Criteria:

- Patient has had any prior esophageal, periesophageal, or gastric surgery, or treatment
with sclerosing agent.

- More than 1 pneumatic dilation procedure to a diameter of >2 cm in their lifetime.

- Pneumatic dilation procedure to a diameter of >2 cm within 1 year prior to
randomization. Prior bougie dilation(s) or pneumatic dilation(s) ≤ 2 cm are allowed.

- Prior esophageal injection of botulinum toxin (Botox) within 6 months prior to
randomization or more than 2 esophageal Botox injection procedures in their lifetime.

- Patients with malignant or premalignant esophageal lesions.

- Patient has taken any drug that can affect GI motility in the 72 hours before Check-in
through Discharge from the clinic.

- Other exclusion criteria specified in the protocol.