This is a phase 2 multicenter, randomized, double-blind, placebo controlled study to evaluate the effects of 200 mg of oral ifetroban administered once daily for eight (8) weeks. Approximately 76 subjects will be randomized into two treatment groups of 38 subjects per group. One group will received the study drug ifetroban and the other will receive placebo. For inclusion in the study, patients must sign consent form and meet all of the criteria within 2 weeks of starting treatment. These subjects will be randomized into one of the treatment groups and receive treatment daily over the course of 8 weeks. There are a total of five (5) required visits starting from screening, Visit 1 to post-treatment, visit 5. A patient diary will be used to record dates and times of all medication received to monitor compliance as well as frequency and severity of flare-ups, antibiotic and rescue medication use, and to record Total Nasal Symptom Scores twice daily.