New York, Feb 11, 2026, 07:50 EST — Premarket
- Hims & Hers ticks up 0.1% in early trading, following two straight days of declines.
- Legal and regulatory heat around compounded semaglutide drew traders’ attention.
- Up next: court decisions, what the FDA decides, and results due Feb. 23.
Hims & Hers Health stock edged 0.1% higher to $17.25 ahead of the open Wednesday, recovering a sliver after tumbling 10.8% Tuesday and sinking 16% the session before.
The abrupt drop in the stock has drawn attention to just how heavily the company’s latest weight-loss gains are tied to “compounded” drugs—those pharmacy-made formulas usually permitted only in cases like shortages or when tailored for individual patients.
It’s suddenly significant: regulators and big-name pharma are stepping up pressure on widely available GLP-1 drugs—the class behind obesity and diabetes treatments like semaglutide, found in Novo Nordisk’s Wegovy.
Novo Nordisk on Tuesday filed its first U.S. patent lawsuit targeting a compounded version of Wegovy, singling out Hims in the process, Reuters reported. General counsel John Kuckelman framed the move as “a real wake-up call,” describing the compounding market as “the wild west.” Law professor Robin Feldman weighed in: “Patents are the big guns.” Hims, for its part, said the suit “directly assaults” a “vital component” of U.S. pharmacy practice. Reuters
Hims maintains that “personalized” dosing is legal if patients require amounts unavailable from the branded version. But after U.S. regulators ruled semaglutide is no longer in short supply, the dispute has escalated, Reuters reports.
The legal dispute comes as the company’s growth has been rapid. Back in November, Hims projected 2025 revenue topping $2.3 billion and is aiming for $6.5 billion by 2030, according to Reuters.
As cheaper GLP-1 options move across telehealth and compounding routes, Novo and Eli Lilly are scrambling to defend their franchises. Traders have wasted no time adjusting for possible injunctions, damages, or stricter regulation.
Hims will release both its fourth-quarter and full-year 2025 numbers after markets close on Feb. 23. The company has its conference call lined up for 5 p.m. ET.
The risk is clear enough: should a court step in to halt sales, or if regulators tighten limits on compounding, Hims could see a key product line disappear—a line that’s been bringing in fresh customers. That would leave the company scrambling to fill the gap, likely driving up acquisition costs in the process.
Next up: watch for any early court developments in Novo’s case, more clues from regulators on enforcement, and whatever Hims has to say about weight-loss demand and its product mix when it speaks to investors Feb. 23.
