After-Hours Movers

T2 Biosystems, Inc. (NASDAQ: TTOO) 47.2% HIGHER; announced the completion of validation of its COVID-19 molecular diagnostic test, the T2SARS-CoV-2 Panel. The test was developed by T2 Biosystems under a license agreement with the Center of Discovery and Innovation at Hackensack Meridian Health and is being commercially distributed after validation meeting requirements for an Emergency Use Authorization (EUA) request to FDA.

Akero Therapeutics, Inc. (Nasdaq: AKRO) 34.8% HIGHER; announced results of a 16-week analysis of secondary and exploratory endpoints in its Phase 2a BALANCED study of efruxifermin (EFX), formerly known as AKR-001, in patients with nonalcoholic steatohepatitis (NASH). Notably, of the 40 treatment responders who had end-of-treatment biopsies, we observed that 48% achieved at least a one-stage improvement in fibrosis without worsening of NAFLD activity score (NAS) and 28% achieved at least a two-stage improvement in fibrosis. In addition, 48% of responders achieved NASH resolution with no worsening of fibrosis. Improvements in glycemic control and dyslipidemia, as well as weight loss, were also observed across all dose groups. Treatment with EFX was generally reported to be well tolerated.

Chiasma, Inc. (NASDAQ: CHMA) 13% LOWER; announced that it has commenced an underwritten public offering of its common stock, and, to certain investors in lieu thereof, pre-funded warrants to purchase shares of its common stock.

FedEx (NYSE: FDX) 8.9% HIGHER; reported Q4 EPS of $2.53, $1.01 better than the analyst estimate of $1.52. Revenue for the quarter came in at $17.4 billion versus the consensus estimate of $16.49 billion.

Gamida Cell Ltd. (NASDAQ: GMDA) 5.5% HIGHER; Evercore ISI initiates coverage on with an Outperform rating.

UPS (NYSE: UPS) 4.9% HIGHER; gains on FDX results

Denny’s Corporation (NASDAQ: DENN) 3.7% LOWER; announced that it has commenced an underwritten public offering of 8,000,000 shares of its common stock, $0.01 par value.