Shares of Hims & Hers Health ( HIMS -25.79%) are falling on Friday. The company's stock lost 23.2% as of 1 p.m. ET and lost as much as 26.1% earlier in the day. The move comes as the S&P 500 lost 1% and the Nasdaq Composite lost 1.3%.

Hims & Hers Health, Inc. (NYSE:HIMS) announced the acquisition of a California-based peptide facility to enhance its domestic supply chain and meet rising demand for personalized medications. The deal’s terms were not disclosed.

Shares of direct-to-consumer telehealth platform Hims & Hers Health (NYSE: HIMS) have become a runaway freight train. The stock has returned nearly 20-fold returns from its 2022 lows, including a blistering 490% over the past year alone.

What Happened? Shares of telehealth company Hims & Hers Health (NYSE:HIMS) fell 24% in the afternoon session after U.S. Food and Drug Administration (FDA) reported that the shortage of weight-loss drugs such as Wegovy and Ozempic has ended.