(Reuters) – Novavax Inc cut its full-year revenue forecast on Tuesday, hurt by a global supply glut in COVID-19 vaccine and waning demand.
The company now expects annual revenue to be about $2 billion, the lower end of its prior forecast range of between $2 billion and $2.3 billion.
In August, Novavax halved its full-year revenue forecast as it did not expect further sales of its COVID-19 shot this year in the United States.
Novavax said its vaccine brought $626.1 million in product sales in the third quarter, as the company sold 35 million doses globally.
(Reporting by Raghav Mahobe in Bengaluru; Editing by Maju Samuel)
