HIMS Shares Decline Amid Lower Revenue Per Order For GLP-1 Following Novo Nordisk Collaboration Termination, Securities Class Action Pending -- Hagens Berman

Core Viewpoint - Hims & Hers Health experienced a significant decline in stock price due to lower revenue expectations from its personalized GLP-1 weight loss medication, leading to a nearly 11% drop in shares on August 5, 2025 [1][3]. Financial Performance - The company's total revenue for Q2 2025 was $545 million, reflecting a 7% sequential decline [3]. - Revenue from compounded GLP-1 weight-loss drugs decreased to $190 million from $230 million in the previous quarter [3]. - Revenue per subscriber fell to $74 from $84, attributed to the off-boarding of some GLP-1 subscribers [3]. Legal Issues - Hims & Hers is facing a securities class action lawsuit related to a terminated collaboration with Novo Nordisk, which was intended to expand access to the FDA-approved weight loss drug Wegovy® [2][5]. - The lawsuit alleges that the company engaged in deceptive promotion and selling of illegitimate versions of Wegovy®, which jeopardized patient safety and led to the termination of the partnership with Novo Nordisk [6]. - Following the announcement of the partnership termination on June 23, 2025, Hims' stock price plummeted over 34% [6]. Business Model Shift - The company has shifted its business model after the FDA ended mass compounding of certain weight-loss drugs, now focusing on personalized, smaller-dose compounded versions [4]. - Hims & Hers previously touted its collaboration with Novo Nordisk but lost it due to regulatory concerns regarding its practices [4].