Novavax rises after licensing deals boost annual revenue forecast

** Vaccine maker Novavax's shares NVAX.O rise 2% to $10.86 premarket

** Co has relied on licensing deals and partnerships tied to its protein-based vaccine platform

** Co expects FY26 adj. revenue of $385 mln-$415 mln, up from $235 mln-$275 mln previously

** Loss-making co is banking on its licensing agreement with Sanofi SASY.PA, worth at least $1.2 bln, to reach profitability by 2028

** Sanofi plans a late-stage US trial of its influenza-COVID-19 combination vaccine in 2027; NVAX is eligible for a $225 mln milestone payment upon US commercial launch

** "We intend to bring new partners forward and it is core to our business model," CEO John Jacobs says

** Posts Q3 revenue of $68 mln, beating analysts' estimates of $50.4 mln, according to data compiled by LSEG

** Five of nine brokerages rate the stock "buy" or higher, one "hold" and three "sell" or lower; median PT is $11 - LSEG data

** As of last close, stock up 58.5% YTD