Study to Evaluate the Safety, Tolerability, and Pharmacokinetics of MK-1029 in Participants With Mild to Moderate Asthma

Inclusion Criteria:

- If female, must be of non-childbearing potential

- Have a history of mild to moderate asthma for at least 6 months

- Other than asthma, in general good health

- Able to perform reproducible pulmonary function testing

- Is a nonsmoker and/or has not used nicotine or nicotine-containing products for at
least 12 months

- Have body mass index (BMI) ≥17 kg/m^2, but ≤35 kg/m^2

Exclusion Criteria:

- Demonstrate a decrease in absolute forced expiratory volume in 1 second (FEV1) of >20%
from the Screening Visit to the Baseline Visit

- Experience a decrease in AM or PM peak expiratory flow (PEF) below the Stability Limit
on any 2 consecutive days prior to the Baseline Visit

- Require the use of >8 inhalations per day of short-acting beta2-agonist metered dose
inhaler (MDI) or >2 nebulized treatments per day of 2.5 mg albuterol, on any 2
consecutive days from the Screening Visit up to the Baseline Visit

- Experience an exacerbation defined as a clinical deterioration of asthma, as judged by
the clinical investigator, that results in emergency treatment, hospitalization due to
asthma, or treatment with additional, excluded medication (other than short-acting
beta agonists [SABA]) at any time from the Screening Visit up to the Baseline Visit

- Have been hospitalized for treatment of asthma or required oral corticosteroids for
treatment of asthma within the past 6 months, or has ever required ventilator support
for respiratory failure secondary to asthma

- Require the chronic use of high-dose inhaled corticosteroids

- Have been diagnosed with chronic obstructive pulmonary disease (COPD) or any other
clinically relevant lung disease, other than asthma

- Have a history of any illness that might confound the results of the study or poses
additional risk to the participant

- Have had recent (within 4 weeks of first dose) or ongoing upper or lower respiratory
tract infection

- Is nursing

- Have a history of significant multiple and/or severe allergies (including latex
allergy), or has had an anaphylactic reaction or significant intolerability to
prescription or non-prescription drugs or food