Precigen (NASDAQ:PGEN) shares are trading higher on Friday after the company announced that Merck KGaA raised its stake in the company.
Precigen is a biotechnology company that develops synthetic biology solutions. The company designs, builds, and regulates gene programs. Its technologies are broadly applicable across a wide range of diverse end markets.
Intrexon's business model is to commercialize its technologies through exclusive channel collaborations with collaborators that have specific industry expertise, development resources, and sales and marketing capabilities, in order to bring new and improved products and processes to market.
Precigen shares traded up 24.27% to $5.48 on Friday at the time of publication. The stock has a 52-week high of $7.28 and a 52-week low of $1.26.