7/9/25

Hims jumps after announcing plans to offer generic Wegovy in Canada in 2026

Hims & Hers rose after the company announced that it will expand to Canada next year, offering generic versions of Novo Nordisk’s blockbuster weight-loss shot, Wegovy.

Novo’s patent on semaglutide, the active ingredient in its weight-loss shot, is set to expire in Canada in January. It would be the first time generics for the blockbuster GLP-1 drugs are available anywhere.

Hims, which has had a tumultuous relationship with the drugmakers, is not the first company to seize the opportunity when it comes to Novo’s lapsed patents. Generic drugmaker Sandoz International has already announced plans to make copies of the drug.

Novo’s patent on semaglutide in the US does not expire until 2031. It expires earlier in Canada because the drugmaker allowed the patent to lapse by not paying a small annual fee.

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Joby takes off as Uber says it’ll add Blade helicopter trips to its app

Shares of air taxi maker Joby Aviation are up more than 7% in premarket trading Wednesday, following news that Uber will add the company’s Blade helicopter and seaplane services to its app as soon as next year.

Joby CEO JoeBen Bevirt said in a statement that the fresh partnership “will lay the foundation for the introduction of our quiet, zero-emissions aircraft in the years ahead.” A Joby air taxi completed its first test flight between US airports last month. The company has said it’s 70% complete with the fourth stage in the five-stage FAA certification process.

Uber, which was flat on the announcement, sold its air taxi business to Joby in 2020.

Joby announced its $125 million acquisition of Blade (minus the company’s primary organ transplant business) in early August. More than 50,000 passengers used Blade services last year, according to Joby’s press release.

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Nio sinks after announcing $1 billion share offering to fund EV development

US-listed ADRs of Chinese EV maker Nio sank more than 8% in premarket trading on Wednesday as investors face $1 billion in share dilution from a secondary offering.

Nio plans to issue up to nearly 182 million shares, raising up to $1 billion according to terms seen by Bloomberg.

Net proceeds from the sale will be put toward R&D around smart EVs and used to “develop future technology platforms and vehicle models across its brands,” Nio said in its announcement. The company also plans to expand its battery swapping and charging network.

The EV maker, which has yet to post a profit in its 11-year history, has ambitious growth plans despite the steep competition in China. It delivered a record 31,305 vehicles in August, including 10,575 sales of its Onvo L90, a Tesla Model Y competitor. The new three-row, $27,000 SUV is the company’s fastest model to reach 10,000 sales.

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Hims expands into testosterone treatments

The company will start with compounded enclomiphene, with more treatments to come in 2026.

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