Subjects will start the treatment period on Day 1. The PK samples will be collected on Day 1 at predose, 30 minutes, 1, 2, 4, 6, and 24 hours (predose the following day). At Week 6, the same sampling times will be used to collect PK samples from the subjects to collect steady state PK data. Subjects will return biweekly for the entire 12-week IP treatment period, except when beginning IP administration, for safety assessments including physical examination and laboratory sample analysis of chemistry, hematology, and urine. Sample collection for efficacy will be collected at each visit. A sample for genotyping will be collected at Day 1. Sample collection for Locarnini biomarkers and other biomarkers will also occur at predose at Day 1; Weeks 2, 4, 8, 12, and 14; and at the End of Study Visit. Samples for cytokine levels will be collected predose at Day 1, Week 6, and Week 12. At Week 12, the end of IP administration, all subjects will return to the clinic and be administered IP and 300 mg tenofovir. Samples will be collected to explore the potential of a drug-drug interaction between SB 9200 and tenofovir. All subjects will have a predose PK sample taken and then take last dose of IP / placebo together with their first dose of tenofovir. Pharmacokinetic samples will be then collected for SB 9200 and tenofovir at 30 minutes, 1, 2, 4, 6, and 24 hours. Thereafter, the subjects will receive tenofovir 300 mg QD for an additional 12 weeks as 4-week supplies. All subjects will return to the clinic at Weeks 13, 14, 16, 20, and 24. Subjects will have safety assessments including symptom-directed physical examinations and safety hematology, biochemistry, and virological studies performed at these visits.