By Colin Kellaher
Shares of Precigen Inc. rose more than 20% on Friday after Germany's Merck KGaA raised its stake in the biopharmaceutical company.
Precigen said Merck, its second-largest shareholder, opted to convert a $25 million note into common stock early, boosting its stake in the Germantown, Md., company to 14.8% from 11.6%.
Precigen shares were recently up 20.6% to $5.32.
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(END) Dow Jones Newswires