Shares of Hims & Hers Health Inc. (HIMS) are soaring 5.16% in pre-market trading on Tuesday, following the telehealth company's impressive third-quarter results and announcement of potential expansion into weight loss treatments.

The company reported Q3 revenue of $600 million, surpassing analysts' average estimate of $580.2 million, according to data compiled by LSEG. This strong performance was underpinned by a 21% year-over-year increase in its subscriber base, which grew to 2.47 million in the third quarter. However, the adjusted profit of 6 cents per share fell short of the estimated 10 cents.

Investors are particularly excited about Hims & Hers' revelation that it is in active talks with Novo Nordisk to offer Wegovy injections through its platform. This potential partnership could significantly expand the company's offerings in the rapidly growing weight loss market. Additionally, the company may offer an oral version of the treatment once approved, further broadening its personalized healthcare portfolio. While analysts have mixed reactions to the earnings report, with some adjusting their target prices, the overall market sentiment remains positive, as evidenced by the stock's strong pre-market performance.