By Connor Hart
Shares of Hims & Hers Health fell, dragged down by expectations that the telehealth-consultation platform will have to stop selling its weight-loss treatments, which boosted results in the fourth quarter.
The stock was down 17%, to $42.80, in after-hours trading on Monday. Despite the stock's recent declines, shares have risen fivefold in the past year.
The San Francisco company logged higher profit and revenue in the quarter, boosted by sales of its weight-loss treatments. The company last year began offering access to compounded semaglutide, a version of the active ingredient in Wegovy and Ozempic, which were plagued by supply shortages.
Last week, the Food and Drug and Administration determined that shortages of Wegovy and Ozempic had been resolved. Shares for Hims fell more than 21% following the FDA's decision.
The FDA said it won't take action against compounders to avoid unnecessary disruption to patient treatment for 60 to 90 days, at which point alternative versions of the weight-loss drugs will have to stop being produced.
Still, Hims forecast first-quarter and full-year revenue in 2025 ahead of analyst expectations.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
February 24, 2025 17:10 ET (22:10 GMT)
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