Washington, April 15, 2026, 17:09 EDT
Shares of Hims & Hers Health surged Wednesday, climbing roughly 14% to $24.29 as of 4:48 p.m. ET and reaching as high as $25.45 earlier in the session. The move followed news that the U.S. Food and Drug Administration plans to reconsider restrictions on several peptides—a development that could open a new growth channel for the telehealth firm.
This shift is significant: Hims has been working all spring to prove it’s not just tied to the GLP-1 wave. GLP-1 drugs, designed to mimic a gut hormone for diabetes and obesity, faced increased FDA scrutiny in compounded versions earlier this month. Still, Hims claims most of its U.S. revenue now comes from other segments, with first-quarter earnings set for May 11.
The FDA plans to convene an advisory panel July 23-24 to consider whether compounding pharmacies should be permitted to use seven specific peptides—BPC-157, KPV, TB-500 and MOTS-c among them. Separately, in a fresh notice, the agency said several of these peptides are set to come off its Category 2 safety-risk list within seven days, following the withdrawal of their nominations. That shift comes even as the FDA moves ahead with its scheduled review.
Peptides—short amino acid chains—ran into a wall with the FDA last year, after regulators flagged toxicity, impurity, and immune-response issues, shutting down compounding for many products in 2023. On Wednesday, Hims Chief Medical Officer Dr. Pat Carroll said the agency’s latest stance could pull peptide therapy “out of the gray market, and into more trusted channels.” He added the company is “actively exploring” expanding access if future guidance allows. Reuters
Hims isn’t standing still. Back in February 2025, the company acquired a California peptide facility—an effort to firm up its U.S. supply chain. Now, with Washington again weighing these ingredients, that deal is getting a fresh spotlight.
Shares rebounded after a bumpy stretch in the weight-loss segment. Hims rolled out a $49 compounded semaglutide pill back in February, but yanked it days later when the FDA warned against widely sold copycat versions. By March, the company pivoted, striking a deal with Novo Nordisk to offer branded Wegovy and Ozempic on its platform. CEO Andrew Dudum called branded GLP-1s a space with “tremendous growth opportunities.” Reuters
So, Hims finds itself going head-to-head with Novo Nordisk and Eli Lilly as tighter regulations hit the compounded drug space. For 2025, Hims reported $2.35 billion in revenue alongside 2.511 million subscribers. Its annual report noted that the bulk of U.S. revenue was already coming from segments outside GLP-1.
The bullish scenario isn’t a lock yet. July’s panel just advises—the process slows from there if broader access moves ahead, and skeptics warn that easing rules for these unproven peptides might erode the FDA’s established standards. Peter Lurie, who once worked at the FDA, didn’t mince words, calling it “a profound threat.” Scott Brunner from the Alliance for Pharmacy Compounding argued any adjustment should be viewed strictly as “a supply chain issue.” AP News
Investors are still speculating—there’s no product launch yet. Hims hasn’t provided a timeline or laid out revenue projections for peptides, saying the company is just looking at options that align with FDA rules. That leaves May 11 earnings as the next real check on whether the platform can take on more categories.
