Hims is pivoting after drugmaker Novo Nordisk on Friday said the Food and Drug Administration has determined that the shortage of Wegovy and Ozempic has been resolved. Compounding its challenges in the space is a decision by drugmaker Eli Lilly on Tuesday to cut prices of Zepbound, another weight-loss drug.

Shares of Hims & Hers Health tumbled 18% premarket on Tuesday as Wall Street analysts questioned the telehealth provider's lofty sales forecast in the face of looming restrictions on compounded weight-loss drugs.