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.

Novavax (NVAX) stock falls 12% in premarket as company cuts full-year revenue guidance due to a lower sales outlook for its COVID-19 vaccine Nuvaxovid. Read more here.

Novavax has made a smaller splash in the U.S. Covid-19 vaccine market than it had hoped. But it's betting on licensing deals and a pipeline of new vaccines it's now evaluating for R&D.

The FDA agreed for Novavax to continue trials of its vaccine combo after addressing a serious adverse event that paused trials.