Syneos Health (NASDAQ:SYNH) shares are trading lower on Wednesday after the company priced its secondary offering of 7 million shares at $59.75 per share.
Syneos is a global contract research and outsourced commercialization organization that provides services to pharmaceutical and biotechnology firms. Its clinical solutions segment offers early- to late-stage clinical trial support that ranges from specialized staffing models to strategic partnerships that oversee nearly all aspects of a drug program, while the company's commercialization solutions includes outsourced sales, consulting, public relations, and advertising services.
Syneos Health shares were down 8.01% at $56.63 at the time of publication on Wednesday. The stock has a 52-week high of $74.25 and a 52-week low of $30.02.