Hims & Hers Health (HIMS) is trading down ~4% to $26.17, continuing its decline following recent news of proposed regulatory changes by the U.S. Food and Drug Administration.
- On May 2, the FDA announced proposed new curbs on the mass compounding of branded weight-loss drugs, such as GLP-1s, which represents a key and high-growth revenue stream for the company.
- The stock fell about 7% in the week the FDA news was released, and the negative momentum has continued into the current session.
- HIMS's decline today comes amid broader market weakness, with reports indicating the S&P 500 and NASDAQ were also trading lower.