Yes, the knee again. Unlike bursitis, runner's knee, or iliotibial band syndrome (ITBS), affects a band alongside the knee, which is why this condition is often characterized by sharp lateral pain in the knee area [source: Fredericson]. This pain usually recurs within a predictable time or distance from the start of a run [source: Nessel].
ITBS is basically an inflammatory problem, so anti-inflammatories should help alleviate the immediate symptoms. If you find yourself suffering from this injury, your best bet is to take a week or two off from running to recuperate.
When you've recovered enough to start running again, proper stretching and warmups should help reduce the pressure that causes the inflammation. Another recommended prevention strategy is to strengthen your gluteus medius (hip muscles) using step exercises [source: Nessel].
ITBS, along with all of the injuries we've discussed, can usually be prevented by warmups and stretching, and not taking on too many miles too soon. Take your time, enjoy the sport and stay healthy.