The purpose of this research study is to find out the safety, tolerability, and impact of the study drug CM-101 in adult patients with Primary Sclerosing Cholangitis (PSC). In Primary Sclerosing Cholangitis, it is thought that some substances released in excess by the body induce the migration of various kind of cells to your liver, leading to liver damage. CM-101 is an investigational drug that is believed to be able to block the activity of these substances and thus limit the liver damage. 
   
Investigational means that it has not yet been approved by the U.S. Food and Drug Administration (FDA) for sale in the United States or by any regulatory authorities in any country in the world. Experimental drugs such as CM-101 may be tested in research studies such as this one.
   
Participants will be randomized to receive either CM-101 or placebo. Randomization is like flipping a coin and there is a 50/50 chance of being assigned to either group. The placebo will look like CM-101 but will not contain active ingredients.
   
Participation in this study will last approximately 31 weeks and participants will be compensated for their time.