Nov 6 (Reuters) - Novavax ( NVAX ) raised its annual

revenue forecast for the third time this year on Thursday,

banking on milestone payments from vaccine supply and licensing

deals such as with Japan's Takeda Pharmaceuticals.

The upbeat outlook comes as the Gaithersburg,

Maryland-based biotech faces persistent investor pressure over

underwhelming sales of its COVID-19 vaccine, Nuvaxovid. Its

second-largest shareholder, hedge fund Shah Capital, had last

month

called on the board to consider a sale of the company,

citing a third consecutive year of weak COVID vaccine sales.

Meanwhile, the company is focused on partnerships with

firms such as France's

Sanofi

, Takeda and Serum Institute of India that cover

marketing of Nuvaxovid and development of other vaccine

candidates, as it eyes profitability by 2027.

"This year we have relaunched the company with a focus on

R&D and partnerships intended to position us well for long-term

growth and profitability," CEO John Jacobs said.

The company expects its 2025 adjusted revenue to be

between $1.04 billion and $1.06 billion, compared with a range

of $1 billion to $1.05 billion earlier. This excludes Sanofi

sales and royalties.

Earlier this month, Novavax ( NVAX ) completed the transfer of

U.S. and EU marketing authorization for Nuvaxovid to Sanofi,

triggering a milestone payment of $50 million in the fourth

quarter.

Total revenue for the third quarter came in at $70

million, topping analysts' average estimate of $42.13 million,

according to data compiled by LSEG.

Net loss for the quarter ended September 30 widened to $202

million from $121 million a year earlier, as the company

recorded non-cash charges of $126 million, including $97 million

related to a Maryland site consolidation announced last month.