A Study to Investigate the Effect of AZD6793 in Participants With Moderate to Very Severe Chronic Obstructive Pulmonary Disease

Inclusion Criteria:

• Participant must be ≥40 years of age at the time of signing the informed consent.

• Documented primary diagnosis of COPD for at least 12 months prior to enrolment.

• Pre-BD FEV1/FVC < 0.7 at Visit 1 and pre- and post-BD FEV1/FVC < 0.7, and post-BDFEV1 ≥ 25% to < 80% of predicted normal at Visit 2.

• Documented history of ≥ 2 moderate or ≥ 1 severe COPD exacerbations in the 12 monthsprior to screening.

• Documented stable regimen of inhaled triple maintenance therapy or inhaled dualmaintenance therapy for ≥ 3 months prior to screening.

• CAT score ≥ 10 at Visit 1.

• Current or ex-smokers with a cigarette smoking history of ≥ 10 pack-years.

• Participants who are clinically stable and free from an exacerbation of COPD for 4weeks prior to Visit 1 and are also exacerbation free for at least 4 weeks (28 days)prior to Visit 3 (randomisation).

• Negative pregnancy test at Visit 1 and Visit 3 for Women Of Child-Bearing Potential (WOCBP).

Exclusion Criteria:

• Clinically important pulmonary disease other than COPD (eg, asthma [currentdiagnosis per GINA or other accepted guidelines], active pulmonary infection,clinically significant bronchiectasis when bronchiectasis is the predominantdiagnosis, pulmonary fibrosis, cystic fibrosis, hypoventilation syndrome associatedwith obesity, lung cancer, alpha-1 antitrypsin deficiency or primary ciliarydyskinesia).

• Radiological findings suggestive of a respiratory disease other than COPD that issignificantly contributing to the participant's respiratory symptoms.

• Any unstable disorder, including, but not limited to, CV, gastrointestinal, hepatic,renal, neurological, musculoskeletal, infectious, endocrine, metabolic,haematological, psychiatric disorder, major physical and/or cognitive impairment.

• Significant left heart failure.

• Unstable angina, acute coronary syndrome/acute myocardial infarction or coronaryintervention with percutaneous coronary intervention/coronary artery bypass graftwithin 6 months of randomisation, uncontrolled arrhythmia, or cardiomyopathy,clinically significant aortic stenosis, or signs of pulmonary oedema or volumeoverload.

• Pulmonary arterial hypertension, either idiopathic or due to connective tissue orthromboembolic disease.

• History of another underlying condition that predisposes the participant toinfections.

• History of ulcerative colitis, Crohn's disease, or microscopic colitis diagnosed byeither a gastroenterologist or by histopathology.

• Abnormal laboratory findings.

• Participants with evidence of active liver disease and/or evidence of chronic liverdisease.

• Participants with history of HIV infection or who test positive for HIV.

• History of lung volume reduction surgery.

• Current or history of malignancy within 5 years before the screening visit.