Hims & Hers down after US FDA chief says super bowl ad violated drug promotion rules

** Shares of telehealth platform Hims & Hers Health HIMS.N fall 2.8% to $53.95 premarket

** The U.S. FDA Commissioner Martin Makary said late on Friday that HIMS' Super Bowl advertisement breached federal law as it highlighted the benefits of weight-loss drugs without mentioning side effects

** Under federal law, advertisements for prescription drugs must present a "fair balance" of risks and benefits, Makary said in a peer-reviewed medical journal published by the American Medical Association

** The company's "Super Bowl ad did not advertise any one treatment or solution," Hims & Hers spokesperson says

** Up to last close, stock up 129.5% YTD