This is a double masked, randomized, sham-controlled efficacy and safety study that will enroll approximately 530 subjects with recent-onset NAION. Subjects will be randomized into one of 5 groups in a 1:1:1:1:1 ratio, and assigned to receive QPI-1007 and/or a sham procedure. Subjects will have a one in five (20%) chance of receiving sham procedure (no active treatment). Total study time involvement is approximately 12 months.