Shares of Panacea Biotec witnessed a significant surge during Thursday's trading session, climbing as much as 6% to reach ₹407.60 per share. This bullish movement was triggered by a major development in the company's research pipeline concerning its much-anticipated dengue vaccine candidate.
A Major Milestone in Dengue Vaccine Development
In a regulatory filing submitted to the stock exchanges on January 7, the pharmaceutical company announced a critical achievement. Panacea Biotec has successfully completed the enrollment of participants for the Phase III clinical trial of its dengue vaccine, named DengiAll. The company formally notified the markets under the SEBI LODR Regulations, stating that 10,335 study participants have been enrolled for this late-stage study.
This Phase III trial is designed to rigorously evaluate the safety and effectiveness of the DengiAll vaccine. Each participant will be monitored over a period of two years after receiving either the actual vaccine or a placebo. The primary goal is to assess the vaccine's efficacy in preventing dengue and to measure the immune response it generates in recipients.
DengiAll: India's Prospective First Indigenous Single-Dose Shot
DengiAll represents a significant scientific endeavor in India's fight against dengue fever. It is classified as a tetravalent vaccine, meaning it is formulated to provide protection against all four known serotypes of the dengue virus—DEN1, DEN2, DEN3, and DEN4. The vaccine is a single-dose shot that contains live but attenuated (weakened) strains of these viruses.
Panacea Biotec has highlighted that DengiAll is on track to become India's first indigenously developed single-dose dengue vaccine. The company has set a tentative target for a commercial launch in 2027, pending successful trial results and regulatory approvals.
The journey for this vaccine began nearly two decades ago. The DengiAll program was initiated in 2006 following a technology transfer agreement with the US National Institutes of Health (NIH). Active development commenced in 2008, underscoring the long and complex process of vaccine creation. After completing Phase I/II trials and a three-year safety follow-up by 2020, the company partnered with the Indian Council of Medical Research (ICMR) in March 2022 to conduct the large-scale Phase III study. The trial received the green light from the Drugs Controller General of India (DCGI) in August 2024 and is being conducted across 19 sites nationwide.
Market Reaction and Stock Performance
The news of the completed enrollment provided a strong boost to investor sentiment for Panacea Biotec. The stock's performance has been volatile in recent times, but it has shown notable strength in the short term.
The share price gained 7.27% over the past five trading sessions and has rallied nearly 21% in the last one month. However, on a yearly basis, the stock is still down over 11%. The long-term picture tells a different story; the stock has delivered returns exceeding 71% in five years and has been a phenomenal multibagger for patient investors, generating staggering returns of over 8,670% since its initial listing.
Panacea Biotec shares, traded on both the BSE and NSE, recently touched a 52-week high of ₹581 in May 2025 and a 52-week low of ₹282.15 in February 2025. The completion of the Phase III enrollment is seen as a de-risking event that brings the vaccine candidate one step closer to potential commercialization, explaining the positive market reaction.
