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    Li Watsek

    Director leading the Biotech Equity Research team at Cantor Fitzgerald

    Li Watsek is a Director leading the Biotech Equity Research team at Cantor Fitzgerald, specializing in coverage of biotech and life sciences equities such as Ascendis Pharma, Replimune Group, and Protara Therapeutics. With coverage of 23 stocks, Watsek’s analyst recommendations have yielded a success rate of 27% and an average return per transaction of -25.00%, with notable profitable calls such as a 165.5% return on Corvus Pharmaceuticals. She joined Cantor Fitzgerald in 2019 following experience at H.C. Wainwright & Co., and holds a Bachelor of Science degree from Fudan University and a graduate degree from New York University. Watsek’s credentials include extensive experience in research leadership, though public records do not confirm current FINRA registration or specific securities licenses.

    Li Watsek's questions to ALX ONCOLOGY HOLDINGS (ALXO) leadership

    Li Watsek's questions to ALX ONCOLOGY HOLDINGS (ALXO) leadership • Q2 2025

    Question

    Li Watsek from Cantor Fitzgerald asked whether the current Phase II ASPEN breast study could be registrational and how the trial design addresses the contribution of components for the drug combination.

    Answer

    CEO Jason Lettmann and CMO Alan Sandler explained that strong data, such as a response rate of 40% or higher, could open a path for accelerated approval discussions with the FDA. Dr. Sandler clarified that the contribution of components is addressed because the study adds evorpercept to a known standard of care (Herceptin plus chemotherapy), making its contribution directly evaluable.

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    Li Watsek's questions to Kura Oncology (KURA) leadership

    Li Watsek's questions to Kura Oncology (KURA) leadership • Q2 2025

    Question

    Li Watsek asked for Kura's perspective on the competitor's Menin inhibitor launch in KMT2A-rearranged AML and sought details on the progress of Kura's Phase 3 frontline trials, including the company's confidence in achieving a first-in-class position.

    Answer

    Chief Commercial Officer Brian Powl stated that while the competitor's launch is positive for patients, Kura is confident in Zifdomenib's potentially best-in-class profile. Chief Medical Officer Dr. Mollie Leoni highlighted that the COMET-seventeen protocol's single design for two trials is attractive to sites, expressing high confidence in a second-half 2025 start and robust enrollment.

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    Li Watsek's questions to Zai Lab (ZLAB) leadership

    Li Watsek's questions to Zai Lab (ZLAB) leadership • Q2 2025

    Question

    Li Watsek of Cantor Fitzgerald inquired about the remaining steps required to file bemarituzumab in China and the potential timing for an NRDL listing. She also asked for Zai Lab's perspective on upcoming data from a competitor's DLL3 program and what additional information Zai Lab plans to share in its next data update for its own DLL3 ADC.

    Answer

    Josh Smiley, President & COO, stated that the immediate focus for bemarituzumab is securing regulatory approval, after which they will pursue NRDL listing as quickly as possible. Rafael Amado, President and Head of Global R&D, added they are working with partner Amgen to submit expeditiously. Regarding the DLL3 ADC, Dr. Amado expressed confidence in their asset's best-in-class profile and confirmed the next data update will include more follow-up on response durability, PFS, and a detailed analysis of intracranial activity.

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    Li Watsek's questions to Zai Lab (ZLAB) leadership • Q4 2024

    Question

    Li Watsek questioned the expected durability of ZL-1310 compared to other modalities and the plan for its confirmatory study. She also asked for a Q4 breakdown of new versus maintenance patients for VYVGART and their expected future contribution.

    Answer

    Dr. Rafael Amado, President and Head of Global R&D, explained it was too early for median durability data on ZL-1310 but noted its efficacy appears independent of prior chemo sensitivity. Joshua Smiley, President and COO, addressed the VYVGART question, stating new patient initiations are around 1,000 per month, with an increasing number starting in the maintenance phase. He cited that 40% of patients who started in Q3 2023 had already returned for a second cycle in Q4 2023.

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    Li Watsek's questions to ARVINAS (ARVN) leadership

    Li Watsek's questions to ARVINAS (ARVN) leadership • Q2 2025

    Question

    Li Watsek inquired if a priority review should be anticipated for the Vepdeq NDA submission and asked about the global filing strategy. She also asked about the key considerations Arvinas would prioritize when seeking a potential new partner for Vepdeq to maximize its value.

    Answer

    CEO John Houston stated they are awaiting details from the FDA on the PDUFA date and will share them once available. CMO Noah Berkowitz added that they have not yet offered guidance on a global filing strategy. Regarding a new partner, Houston emphasized the goal is to place Vepdeq with a company, be it Pfizer or another, that is committed to launching, commercializing, and funding further development of the asset globally, with minimal future development involvement from Arvinas.

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    Li Watsek's questions to ARVINAS (ARVN) leadership • Q1 2025

    Question

    Li Watsek asked about Arvinas's business development strategy regarding in-licensing external assets, the company's conviction in its early-stage pipeline, and the expected timing and success bar for the KAT6 combination data.

    Answer

    CEO John Houston explained that while Arvinas is a platform-driven company, it remains open to in-licensing an asset that complements its lead programs. CMO Noah Berkowitz clarified that the KAT6 combination is an exploratory, all-comer Phase 1 trial run by Pfizer with no set timelines for data, as it is just beginning.

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    Li Watsek's questions to CURIS (CRIS) leadership

    Li Watsek's questions to CURIS (CRIS) leadership • Q2 2025

    Question

    Li Watsek of Cantor Fitzgerald inquired about the clinical bar for the BTK combination study in CLL, how emivosertib fits into the evolving CLL landscape, and what expectations to set for the upcoming AML triplet data.

    Answer

    CMO Ahmed Hamdy stated the goal in CLL is achieving MRD negative or complete remissions for time-limited treatment. CEO James Dentzer added that emivosertib can complement any BTK inhibitor or degrader. CDO Jonathan Zung confirmed plans to present efficacy and safety data from the AML triplet study's 7 and 14-day cohorts at the ASH conference.

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    Li Watsek's questions to Corvus Pharmaceuticals (CRVS) leadership

    Li Watsek's questions to Corvus Pharmaceuticals (CRVS) leadership • Q4 2024

    Question

    Representing Li Watsek, an analyst inquired about Corvus's strategy for prioritizing soquelitinib's development between oncology and inflammatory diseases as it moves to later-stage trials. A follow-up question asked if the delayed presentation of Cohort 4 data was due to enrollment issues or a decision to await Cohort 3 results.

    Answer

    Executive Richard Miller clarified that the strategy is to 'push on all fronts aggressively' to secure approvals in both lymphoma and immune diseases, citing Rituxan as a precedent for a drug used in both areas. He noted that at the right time, the company would consider a partnership for the vast autoimmune disease opportunity. Regarding Cohort 4, Miller confirmed there is 'no delay in enrollment' and the company is simply waiting to see the full data from Cohort 3 before making a final decision.

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    Li Watsek's questions to FATE THERAPEUTICS (FATE) leadership

    Li Watsek's questions to FATE THERAPEUTICS (FATE) leadership • Q1 2024

    Question

    Li Watsek of Cantor Fitzgerald asked about other potential autoimmune indications for FT522, the strategic positioning between FT522 and FT819, and whether amending the FT819 protocol for alternative conditioning regimens would boost patient enrollment.

    Answer

    CEO Scott Wolchko declined to disclose specific expansion strategies but confirmed guidance for a clinical update on the first 3-5 FT819 patients by year-end. He emphasized that moving away from cy/flu conditioning is critical for the autoimmune setting and believes offering alternatives like Cytoxan-only will be key to driving adoption and realizing the therapy's potential.

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    Li Watsek's questions to Arcus Biosciences (RCUS) leadership

    Li Watsek's questions to Arcus Biosciences (RCUS) leadership • Q1 2024

    Question

    An analyst from Cantor Fitzgerald & Co., on for Li Watsek, asked about pipeline prioritization. She inquired how Arcus is thinking about its next-generation programs, including its inflammation portfolio, while simultaneously executing on multiple late-stage oncology trials.

    Answer

    CEO Terry Rosen explained that the collaboration with Gilead was designed to function as an R&D engine, enabling continued investment in discovery alongside late-stage development. He highlighted the AXL inhibitor as a notable early-stage program that recently entered the clinic. Rosen also mentioned that while the company has a strong immunology biology group and will likely increase its focus on immunology and inflammation (I&I), the primary driver for new projects remains identifying the best targets, regardless of therapeutic area.

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