Leerink analyst Paul Matteis lowered his price target for Cempra to $21 after the company announced top-line results from its phase III SOLITAIRE-IV study which compared solithromycin and Moxifloxacin. Solithromycin was numerically inferior on "multiple key clinical measures," and notably was 4%-5% worse than Moxifloxacin on success at follow-up on multiple data cuts, including an intent-to-treat analysis, Matteis tells investors in a research note. He remains confident in U.S. approval and the unmet need presented by pneumonia, but cut his peak gross 2032 U.S. sales estimate from to $600M from $1B. The analyst keeps a Market Perform rating on Cempra.