The company, which had earlier flagged significant uncertainty around generating revenue for the year, said it expects total annual revenue between $1.4 billion and $1.6 billion, relying on a timely launch of its updated COVID shot. Separately, Novavax said its COVID/flu combination shot was safe and well-tolerated in a mid-stage study, sending shares of the company up 9% before the bell. Global regulators expect COVID vaccination campaigns to be conducted once a year, similar to annual flu inoculations.