KZA Chart, page-523

I've done very little trading in my KZA holding in the last 24 months although I have managed to average down my cost base this year. My net position is still above water. Either you are willing to take the risk on Paxalisib or not. It's impressive that there are so many advanced stage clinical trials of Paxalisib on the go for a total corporate cash burn of around A$7m per quarter. On balance, management performance has my approval with the exception of the Beard losing his beard. Shaving off facial hair leading into a bear market is asking for trouble.

There is probably more mayhem in store for biotech sector stock prices yet. Trading volume liquidity in KZA on the Australian exchanges is very low. Average daily traded volume over the past ten days is 84k. Tax loss selling before the end of the month could tank the share price further. I'll be looking to top up when I think we may have seen a bottom. There is a gap on the daily chart @ 54c from 6 Aug '20. I never thought I would live to see it closed but who knows! That's the market for you.