This randomized, placebo-controlled, double-masked, Phase 2b/Phase 3 study will assess the efficacy of two different concentrations of XAF5 Ointment for reduction of lower lid steatoblepharon (undereye bags).

Inclusion Criteria:

• Moderate to severe, bilateral lower eyelid steatoblepharon
• Must understand and provide informed consent
• Healthy facial skin

Exclusion Criteria:

• Pregnant or lactating women
• Clinically significant eye disease
• Best corrected visual acuity worse than 20/40 in either eye
• History of eye surgery in past 6 months
• History of lower eyelid surgery