What's Going On With Hims & Hers Shares Today?

Zinger Key Points

Wegovy received expanded approval in the UK for preventing heart attacks and strokes in overweight or obese patients with existing disease.
The approval is based on data showing a 20% reduction in major heart issues.
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Hims & Hers Health, Inc. HIMS saw a notable surge in its stock Tuesday possibly from continued momentum from yesterday. Here’s what you need to know.

What To Know: The company is scheduled to release its second-quarter earnings report on August 5th, after market close. The company's estimated earnings per share (EPS) for the quarter stands at 4 cents, with revenue projections at approximately $299.9 million

What Else: In a significant development for the pharmaceutical industry, Novo Nordisk's weight-loss drug Wegovy has received expanded approval in the UK. The UK Medicines and Healthcare products Regulatory Agency (MHRA) has now approved Wegovy not just for obesity treatment but also for the prevention of heart attacks and strokes in patients with existing heart disease who are overweight or obese, according to Bloomberg.

This new indication is based on a substantial study demonstrating that Wegovy reduces the risk of major heart afflictions by 20%. Specifically, 6.5% of patients on Wegovy experienced serious heart disorders, compared to 8% in the placebo group.

HIMS Price Action: Hims & Hers stock is up by 11.88% at last check Tuesday, trading at $22.75 per share, according to Benzinga Pro.