Markets
Food And Drug Administration Headquarters In Maryland
(Sarah Silbiger/Getty Images)

FDA issues warning on hair-loss treatment sold on Hims & Hers

The FDA warning letter doesn’t prevent the company from continuing to sell the treatment, but may be a sign of future enforcement.

J. Edward Moreno

The Food and Drug Administration issued a warning over topical finasteride, a topical hair-loss treatment sold by telehealth providers like Hims & Hers.

The FDA has approved two oral finasteride treatments but has not approved any topical treatments that typically come in a spray format. The FDA warning letter doesn’t prevent the company from continuing to sell the treatment, but may be a sign of future enforcement.

The FDA noted that patients reported not being warned about side effects. Unlike drugmakers, telehealth companies like Hims do not have to disclose side effects in their advertisements. The process of getting a prescription through platforms like Hims often takes just a few minutes.

The agency said it received 32 adverse effect reports for topical finasteride from 2019 to 2024. “In the reports, consumers said they wished they had been informed about the possible side effects,” the warning said. “Some consumers expressed they became very depressed, suffering with pain and their lives were ruined because of these symptoms.”

Hims did not immediately respond to a request for comment.

Last month, in a Wall Street Journal story highlighting patients who had negative experiences with topical finasteride, a Hims spokesperson said the company is transparent with patients about side effects.

Hims — the only one of its peers that’s publicly traded — was down about half a point on the news, about three points lower than its intraday high.

More Markets

See all Markets
markets

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

markets

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

Latest Stories

Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.