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.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

October 09, 2020 10:23 ET (14:23 GMT)

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