Inclusion Criteria:

- Laboratory-confirmed SARS-CoV-2 infection as determined by an approved polymerase
chain reaction (PCR) or an approved antigen test of any specimen (can be documented
from inpatient medical record)

- Hospitalized with at least "severe" COVID-19-induced ARD or ARDS as defined per FDA
Guidance; COVID-19: Developing Drugs and Biological Products for Treatment or
Prevention

- Requires oxygen supplementation at Screening

- Willing to follow contraception guidelines

Exclusion Criteria:

- Current standard of care treatments for COVID-19 appear to be working and the
subject is clinically improving

- Has severe ARDS with a PaO2/FiO2 (PF ratio) ≤ 100 mmHg or SpO2/FiO2 ratio < 150 mmHg
with PEEP ≥ 5cm H2O

- A previous stem cell infusion unrelated to this trial

- Pregnant or breast feeding or planning for either during the study

- Suspected uncontrolled active bacterial, fungal, viral, or other infection (aside
from infection with COVID-19)

- History of a splenectomy, lung transplant or lung lobectomy

- Concurrent participation in another clinical trial involving therapeutic
interventions (observational study participation is acceptable)

- Expected survival or time to withdrawal of life-sustaining treatments expected to be
< 7 days

- Has an existing "Do Not Intubate" order

- Has undergone home mechanical ventilation (noninvasive ventilation or via
tracheotomy) except for continuous positive airway pressure or bi-level positive
airway pressure (CPAP/BIPAP) used solely for sleep-disordered breathing (eg,
obstructive sleep apnea)

- Has any significant medical condition, laboratory abnormality or psychiatric illness
that in the investigator's opinion would interfere or prevent the subject from
safely participating in the study