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Novavax Inc. NVAX-Q on Monday cut its full-year revenue forecast after the company sold fewer doses of its COVID-19 vaccine in the second quarter.

The company said it sold 3 million doses of the vaccine, recording $55 million in product sales in the quarter. This compares with $586 million in COVID-19 vaccine sales in the first quarter.

Novavax said it now expects 2022 total revenue in the range of $2 billion to $2.3 billion, compared with its prior forecast of $4 billion to $5 billion.

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