The most common serious adverse events were COPD exacerbation resulting in admission to hospital ( eight patients [ 5 % ] taking placebo , six [ 4 % ] taking losmapimod 25 mg , two [ 1 % ] taking losmapimod 75 mg , and three [ 2 % ] taking losmapimod 15 mg ) and pneumonia ( four [ 3 % ] vs 0 [ 0 % ] vs 1 [ 1 % ] vs 4 [ 3 % ] ) .