CK Capital
Defense/Space/Tech/Photonics Investor, Co-Owner of CV Research
A recommendation to allow BPC-157 compounding would unlock a large new market for Hims & Hers. Demand for the peptide already exists but has lived on sketchy research-chemical sites for years. A yes vote would move that underground market into legal telehealth, where Hims & Hers has already built the capacity, making it a TAM unlock rather than a headline pop. x.com
RFK Jr.'s health department's notice that the FDA will not take action against pharmacies compounding six unapproved peptides brings Hims & Hers' peptide opportunity forward. Pharmacies can offer BPC-157, TB-500, epitalon, KPV, MOTS-c and semax now while a formal rule change is worked on. This is the most bullish news for Hims & Hers. x.com
Hims & Hers could gain a massive new growth opportunity if peptide access expands after the White House completed its review of the FDA's interim policy. Six peptides, including BPC-157, TB-500 and MOTS-c, could gain expanded access; Hims is preparing treatments. The potential market is $2B-$3B. x.com
Hims & Hers faces mounting headwinds from an FTC lawsuit and a setback to its peptide expansion. The FTC alleges deceptive subscription practices and improper sharing of sensitive health data with ad platforms. An FDA advisory panel also voted against adding emideltide to the 503A Bulks List, a blow to Hims' peptide and compounding plans. x.com
Hims & Hers' newly previewed Peptides+ offering could add a growth vertical to its healthcare platform. Management plans access to sermorelin, glutathione and NAD+; recent regulatory developments may also open a path for BPC-157 and TB-500, subject to further conditions. Rollout and commercial opportunity remain unproven, and margins and execution are still risks. x.com
Hims & Hers is built for peptide compounding, which the FDA is loosening restrictions on. About 30% of shares are sold short and need to cover, per Yahoo data. The stock could test the $40 channel top and recent high within days. x.com x.com x.com x.com
Hims & Hers' peptide business looks undifferentiated with relatively low barriers to entry, since nothing about providing peptides appears proprietary. Its edge would have to be scale and distribution, and it is not clear it is far ahead of other telehealth companies there. @JonahLupton notes Barron's said Hims could own 20% of the peptide market. x.com
Peptides could fast-track Hims & Hers' patient network like Harry Potter did for Amazon. Its US-based supply chain, manufacturing and clinical network could serve new demand. The FDA's interim compounding policy cleared White House review and may be released any day, potentially allowing certain peptides; Lee Rosebush says six are in Category 1. The policy's terms remain unknown. x.com x.com x.com x.com
With 29% of its shares sold short, Hims & Hers is set up to rally after an FDA panel voted 8–6, with one abstention, in favor of BPC-157, per @OracleNYSE. It looks like a decent swing over the next few days, as @TraderZ suggests. x.com x.com
Hims & Hers will keep missing if Eli Lilly protects retatrutide with a biologic patent and traditional GLP-1 prices keep falling. Other peptides beyond GLP-1s are years away, and there are not enough effective and safe ones to drive meaningful revenue. x.com x.com x.com
The FDA peptide panel's vote to put BPC-157 on the 503A compounding list opens an entirely new peptide vertical for Hims & Hers, which can now legally offer the most widely used of the peptides reviewed. Its in-house peptide manufacturing facility gives it an edge over every other telehealth provider in scaling that business. x.com
