The present invention relates to compounds, compositions, and methods for the study, diagnosis, and treatment of traits, diseases and conditions that respond to the modulation of 
cyclic nucleotide type 4 
phosphodiesterase (PDE4B) 
gene expression and / or activity, including PDE4B1, PDE4B2, and PDE4B3 
gene expression and / or activity. The present invention is also directed to compounds, compositions, and methods relating to traits, diseases and conditions that respond to the modulation of expression and / or activity of genes involved in 
cyclic nucleotide type 4 
phosphodiesterase (PDE4B) 
gene expression pathways or other cellular processes that mediate the maintenance or development of such traits, diseases and conditions, including but not limited to IL-6, IL-I, IL-8, IL-15, TNF-alpha and matrix metalloproteinases (MMPs), such as MMP-I, MMP-2, MMP-3, MMP-9 and MMP-12. Specifically, the invention relates to 
double stranded nucleic acid molecules including small 
nucleic acid molecules, such as short interfering 
nucleic acid (siNA), short interfering 
RNA (siRNA), double-stranded 
RNA (dsRNA), micro-
RNA (miRNA), and short hairpin RNA (shRNA), and multifunctional siNA molecules capable of mediating 
RNA interference (RNAi) against 
cyclic nucleotide type 4 
phosphodiesterase (PDE4B) 
gene expression, including cocktails of such small nucleic acid molecules and lipid 
nanoparticle (LNP) formulations of such small nucleic acid molecules. The present invention also relates to small nucleic acid molecules, such as siNA, siRNA, antisense and others that can inhibit the function of endogenous RNA molecules or RNAi pathway components (RNAi inhibitors), such as endogenous micro-RNA (miRNA) (e.g, miRNA inhibitors) or endogenous short interfering RNA (siRNA), (e.g., siRNA inhibitors) or that can inhibit the function of RISC (e.g., RISC inhibitors), to modulate PDE4B 
gene expression by interfering with the regulatory function of such endogenous RNAs or proteins associated with such endogenous RNAs (e.g., RISC) including cocktails of such small nucleic acid molecules and lipid 
nanoparticle (LNP) formulations of such small nucleic acid molecules. Such small nucleic acid molecules are useful, for example, in providing compositions to prevent, inhibit, or reduce inflammatory, respiratory, and autoimmune diseases, traits, and conditions, and / or other 
disease states associated with PDE4B 
gene expression or activity in a subject or 
organism.