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    Chi Meng Fong

    Vice President and Research Analyst at BofA Securities

    Chi Meng Fong is a Vice President and Research Analyst at BofA Securities specializing in biotechnology and specialty pharmaceuticals, with a primary focus on SMid-cap biotech firms. He covers companies including Roivant Sciences, Vaxcyte, Alkermes, and Exelixis, providing actionable investment recommendations such as his recent 'Hold' rating on Roivant Sciences with targeted price metrics. Known for his rigorous analysis and participation in industry conferences, Chi Meng Fong has built a strong career at BofA, previously engaging in analyst roles for healthcare companies and contributing to key financial events since at least 2019. He holds professional credentials in securities analysis, is recognized for his thorough sector knowledge, and maintains active FINRA registration.

    Chi Meng Fong's questions to FRACTYL HEALTH (GUTS) leadership

    Chi Meng Fong's questions to FRACTYL HEALTH (GUTS) leadership • Q1 2025

    Question

    Chi Meng Fong of BofA Securities inquired about the specific timing for the REMAIN-1 midpoint analysis in Q3 and the expected effect size delta between the Revita and sham arms.

    Answer

    CEO Harith Rajagopalan confirmed confidence in the Q3 2025 timeline, noting that over 45 patients have already achieved the 15% weight loss threshold for randomization. He reaffirmed the company's goal is to demonstrate an effect at least 50% better than the weight regain expected from tirzepatide withdrawal alone, pointing to upcoming REVEAL-1 data as an early indicator.

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    Chi Meng Fong's questions to EXELIXIS (EXEL) leadership

    Chi Meng Fong's questions to EXELIXIS (EXEL) leadership • Q1 2025

    Question

    Chi Meng Fong inquired about the company's philosophy on its share buyback program and how it is balanced against reinvestment in R&D and business development, particularly if the stock price remains at current levels.

    Answer

    President and CEO Michael Morrissey stated that the company's strong balance sheet and cash flow allow for a three-pronged capital allocation strategy: investing in the internal pipeline, pursuing strategic BD, and repurchasing shares when deemed undervalued. He noted they have bought back ~20% of the float at favorable prices and will continue to be data-dependent and situational in their allocation approach.

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    Chi Meng Fong's questions to EXELIXIS (EXEL) leadership • Q3 2024

    Question

    Chi Meng Fong, on behalf of Jason Gerberry, asked about Exelixis's business development preferences, specifically regarding therapeutic modality (e.g., small molecule, ADC) and potential deal size within the GI oncology space.

    Answer

    President and CEO Michael Morrissey explained that Exelixis is agnostic to modality and deal size. The primary focus is on acquiring assets where the company has strong conviction in the ability to generate clinically differentiating data that can translate into commercial success, leveraging their existing expertise in the GI space.

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    Chi Meng Fong's questions to Liquidia (LQDA) leadership

    Chi Meng Fong's questions to Liquidia (LQDA) leadership • Q1 2025

    Question

    Chi Meng Fong, on behalf of Jason Gerberry at BofA Securities, asked for a preview of the data being presented at the upcoming American Thoracic Society (ATS) meeting and inquired about the timeline for the full 48-week data from the ASCENT study.

    Answer

    Chief Medical Officer Dr. Rajeev Saggar explained that three posters will be presented at ATS. Two will detail the first 20 patients from the ASCENT study, covering baseline demographics, tolerability, dosing characteristics, and exploratory efficacy endpoints like 6-minute walk distance and cardiac effort. A third poster will present a case study on transitioning a patient from IV treprostinil to YUTREPIA.

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    Chi Meng Fong's questions to IONIS PHARMACEUTICALS (IONS) leadership

    Chi Meng Fong's questions to IONIS PHARMACEUTICALS (IONS) leadership • Q1 2025

    Question

    Chi Meng Fong, on for Jason Gerberry, asked for a breakdown of TRYNGOLZA's initial patient sources between clinical trial conversions and newly identified patients. He also asked if there were any outstanding items before initiating the Phase III study for Angelman syndrome.

    Answer

    Chief Global Product Strategy Officer Kyle Jenne explained that Q1 TRYNGOLZA uptake came from three buckets: converted clinical trial patients, previously diagnosed patients awaiting treatment, and newly identified patients, with the future focus being on new patient finding. CEO Brett Monia confirmed the Angelman syndrome Phase III study is on track to begin in Q2 2025, with trial design aligned with the FDA and no outstanding requirements.

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    Chi Meng Fong's questions to IONIS PHARMACEUTICALS (IONS) leadership • Q4 2024

    Question

    Chi Meng Fong, on behalf of Jason Gerberry at Bank of America, inquired about the TRYNGOLZA launch, focusing on insurance reimbursement documentation and the potential challenges in distinguishing between clinical and genetic diagnoses for coverage.

    Answer

    Chief Global Product Strategy Officer Kyle Jenne and CEO Brett Monia addressed the question. Jenne explained that early reimbursement is proceeding via a medical exception process, with both genetically and clinically diagnosed patients successfully gaining access. He noted the NAFCS scoring tool is proving useful for clinical diagnosis. Monia added that the turnaround time for genetic testing is fast (1-2 weeks) and expects physician familiarity with clinical diagnosis criteria to grow over time.

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    Chi Meng Fong's questions to Bausch Health Companies (BHC) leadership

    Chi Meng Fong's questions to Bausch Health Companies (BHC) leadership • Q4 2024

    Question

    Chi Meng Fong, on for Jason Gerberry, asked for a follow-up on the Norwich case, questioning if Norwich is subject to a 30-month stay and seeking clarity on the timing for the next steps in the FDA lawsuit regarding generic Xifaxan.

    Answer

    CEO Thomas Appio reiterated the company's position, stating, "We believe the 30-month stay applies, and that's what the legal team is focused on and getting ready for." He declined to speculate further on Norwich's claims or the FDA's stance, emphasizing that Bausch Health is proceeding as if the stay is in effect.

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    Chi Meng Fong's questions to BeyondSpring (BYSI) leadership

    Chi Meng Fong's questions to BeyondSpring (BYSI) leadership • Q4 2021

    Question

    Chi Meng Fong, on for Jason Gerberry at Bank of America, asked for confirmation that the U.S. filing for non-small cell lung cancer (NSCLC) was no longer guided for H2 2022, and inquired about FDA feedback regarding data from China, including potential data quality concerns and whether a second multi-regional trial has been discussed.

    Answer

    Executive Lan Huang confirmed the H2 2022 NSCLC filing guidance is for China, not the U.S. She clarified that U.S. FDA discussions center on the relevance of the Chinese patient population data, not data quality, expressing high confidence in their data integrity. Huang also stated that the FDA has not brought up the need for a second trial for the NSCLC indication.

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