Novavax raises revenue forecast and tops quarterly estimates
Shares of vaccine maker Novavax NVAX.O rose 2.1% to $7.86 in premarket trading.
NVAX now expects annual revenue of $235 million to $275 million, compared with its previous expectation of $230 million to $270 million.
The company's second-quarter revenue of $56.7 million beat analysts' average expectation of $52.5 million, according to LSEG data.
Novavax said completion of the manufacturing technology transfer to Sanofi is expected in mid-2027 and would trigger a $75 million milestone payment to Novavax.
Up to the last close, the stock was up 14.6% year to date.
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