US Stock Market Move | Advertising content of its weight-loss drugs under the label has been warned by the FDA. Hims & Hers Health (HIMS.US) dropped more than 7%.

On Tuesday, the stock price of Hims & Hers Health (HIMS.US) fell, with the stock dropping over 7% to $49.99 as of press time. The company had received a formal warning letter from the Food and Drug Administration (FDA) regarding its promotional content for the "complex peptide selegiline" product. The FDA emphasized that the complex drug product itself has not been approved by the FDA, so it cannot be equated with standard drugs that have undergone clinical trials and approval. The regulatory agency has requested Hims & Hers to submit corrective measures within 15 working days, and if they fail to effectively address the issues, they may face legal sanctions including product seizure and injunctions.