Things were looking up for Novavax stock after the FDA resolved a clinical hold. But the company trimmed its outlook. Is NVAX stock a sell?

Nov 12 (Reuters) - Novavax (NVAX.O), opens new tab cut its annual revenue forecast on Tuesday, citing lower-than-expected sales of its COVID-19 vaccine, ahead of handing over the rights to sell the shot to French drugmaker Sanofi (SASY.PA), opens new tab.

Key Takeaways Novavax shares fell after the company dropped its full-year revenue guidance with its third-quarter results.The company has cut its guidance multiple times this year, and the new range is below the analyst consensus.

Novavax (NASDAQ:NVAX) shares lost ~12% in the premarket on Tuesday after the Gaithersburg, MD-based biotech, with its Q3 2024 financials, cut its full-year revenue guidance, citing a gloomy sales outlook for its COVID-19 vaccine,