| Outcome Measures: |
Primary: Incidence of Treatment Emergent Adverse Events as assessed by hematology and clinical pathology blood tests, Safety will be assessed by observing changes in patients' blood tests when compared to normal lab values/ranges after once daily dosing of 1 dose level of WST-057 solution or placebo. The number of participants with treatment-related adverse events as assessed by CTCAEv4.0 will be reported., 12 weeks|Incidence of Treatment Emergent Adverse Events as assessed by vital signs (blood pressure (diastolic and systolic mmHg), heart rate (beats per minute), respiratory rate (breaths per minute)., Safety will be assessed by observing changes in patients' blood tests when compared to normal lab values/ranges after once daily dosing of 1 dose level of WST-057 solution or placebo. The number of participants with treatment-related adverse events as assessed by CTCAEv4.0 will be reported., 12 weeks|Incidence of Treatment Emergent Adverse Events as assessed by ECG (measuring p wave, QRS complex, QT interval), Safety will be assessed by observing changes in patients' blood tests when compared to normal lab values/ranges after once daily dosing of 1 dose level of WST-057 solution or placebo. The number of participants with treatment-related adverse events as assessed by CTCAEv4.0 will be reported., 12 weeks|Incidence of Treatment Emergent Adverse Events as assessed by dermal assessment (Draize score 0.0-4.0) score of skin erythema, edema pruritus and dryness score) of the dosing area, Safety will be assessed by observing changes in patients' blood tests when compared to normal lab values/ranges after once daily dosing of 1 dose level of WST-057 solution or placebo. The number of participants with treatment-related adverse events as assessed by CTCAEv4.0 will be reported., 12 weeks | Secondary: Utah Early Neuropathy Score (UENS), Utah Early Neuropathy Scale (UENS) is a simple, rapid, and reproducible test targeted to detect early sensory peripheral neuropathy. It includes motor examination, pin sensation, allodynia, hyperesthesia, large-fiber sensation, and deep tendon reflexes. The minimum score is 0. The maximum score for the UENS is 42 points. A higher score indicates more severe disease., 12 weeks|modified Toronto Clinical Neuropathy Score (mTCNS), Symptomatic patient reported outcome for DPN symptoms, and neurological assessment. The minimum score is 0. The maximum score for the mTCNS is 33 points. A higher score indicates more severe disease., 12 weeks|Norfolk Quality of Life- Diabetic Peripheral Neuropathy (Norfolk-QOL-DN), Patient reported outcome for quality-of-life outcomes specifically for patients with DPN. The minimum score is -4. The maximum score for the Norfolk QOL-DPN is 113 points. A higher score indicates more severe impact on a patient's quality of life., 12 weeks|Visual Analogue Score for Pain (VAS), Validated patient reported outcome where patients rate their pain on a scale from 0-100mm. The minimum score is 0. The maximum score is 100. A higher score indicates more intense pain., 12 weeks|Neuropathy Total Symptom Score-6 (NTSS-6), A patient reported outcome focused on frequency and type of DPN pain, etc. The minimum score is 0. The maximum score for the NTSS-6 is 21.96 points. A higher score indicates more severe symptoms., 12 weeks
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