Hims & Hers shares took a second hitin the past three sessions today, this time after the company reported earnings yesterday afternoon.
The company confirmed that the revenue windfall from compounded GLP-1 drugs was poised to dry up after the first quarter, but said it still expected least $725 million of revenue in 2025 from its remaining weight-loss offering.
Catch up quick: The FDA declared an end to shortages of Novo Nordisk's Ozempic and Wegovy Friday, putting the brakes on the sale of commercially available dosages for compounded versions.
Hims shares have now plunged 40% since that announcement. They had gained over 370% since offering GLP-1 compounds last May.
Meanwhile, GLP-1 maker Eli Lilly applied additional pressure today, announcing price cuts for weight-loss drug Zepbound.
The move was viewed as a bid to draw momentum away from compounders.
The bottom line: The balance of power is shifting back to the name-brand drugmakers.