HIMS
A small vote, a big shrug from the stock market
Hims & Hers just got a not-so-tiny nudge from Washington. An FDA advisory committee voted Thursday to recommend adding four peptides — BPC-157, KPV, TB-500, and MOTS-C — to the 503A Bulks List, which would make it easier for compounding pharmacies to legally produce them.
That matters because Hims has been leaning hard into peptides as part of its push into metabolic health, recovery, and preventive care. If this regulatory door opens, Hims may have a cleaner path to turn that strategy from “interesting slide deck” into actual revenue.
But don't pop the champagne yet
This was an advisory vote, not final FDA approval. The agency still has to make the call, and FDA staff scientists had already recommended against all seven peptides under review, warning about weak human evidence, unclear formulations, and safety risks like immune reactions and contamination.
So yes, the panel vote is helpful. No, it is not a done deal. This is more like getting approved by the group chat before the boss weighs in.
Why investors care
Leerink Partners called the result a positive catalyst, estimating the peptides under review could represent a $2.2 billion annual telehealth opportunity, with Hims potentially grabbing about 20% of that market. Still, the firm kept a Market Perform rating and a $25 price target, which is basically Wall Street saying: “Nice upside story, but please show us the receipts.”
Shares already got the memo, jumping more than 10% intraday Thursday before cooling off. Big picture: Hims is still trying to prove it can turn regulatory momentum into a durable business, not just a one-day adrenaline rush.