HMN Financial Inc
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Financials : Thrifts & Mortgage Finance | Small Cap Value
Company profile

HMN Financial, Inc. (HMN) is a stock savings bank holding company that owns Home Federal Savings Bank (the Bank). The Bank operates retail banking and loan production facilities in Minnesota, Iowa and Wisconsin. The Bank has two subsidiaries, Osterud Insurance Agency, Inc., which offers financial planning products and services, and HFSB Property Holdings, LLC, which acts as an intermediary for the Bank in holding and operating certain foreclosed properties. HMN's business involves attracting deposits from the general public and businesses and using such deposits to originate or purchase one- to four-family residential, commercial real estate and multi-family mortgage loans, among others. HMN invests in mortgage-backed and related securities, the United States government agency obligations and other permissible investments. HMN serves the southern Minnesota counties of Dodge, Fillmore, Freeborn, Houston, Mower, Olmsted and Winona, and portions of Steele, Goodhue and Wabasha.

Closing Price
Day's Change
0.10 (0.75%)
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Gilead Sciences to pay $300 million for nearly half of Tizona, has option to buy the rest for $1.25 billion

8:43 am ET July 21, 2020 (MarketWatch)

Gilead Sciences Inc. (GILD) announced Tuesday a deal to buy a 49.9% stake in privately held cancer treatment developer Tizona Therapeutics Inc. for $300 million. Gilead also received an option to buy the remainder of Tizona for up to an additional $1.25 billion, including potential future milestone payments. The option to buy the rest of Tizona can be exercised before, or following, the readout of a Phase 1b study of Tizona's investigational TTX-080 to treat tumors. The Food and Drug Administration has cleared TTX-080's investigation drug application, and Tizona plans to initiate a Phase 1 trial in the third quarter. "Tizona is pursuing first-in-class cancer immunotherapies that could make an important difference in oncology by helping patients who don't respond to current checkpoint inhibitors," said Gilead Chief Executive Daniel O'Day. Gilead's stock, which slipped 0.4% in premarket trading, has rallied 20.2% year to date through Monday, while the iShares Nasdaq Biotechnology ETF (IBB) has advanced 21.0% and the S&P 500 has edged up 0.7%.

-Tomi Kilgore; 415-439-6400;

(END) Dow Jones Newswires

July 21, 2020 08:43 ET (12:43 GMT)

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