Panacea Biotech shares up 56% in six sessions; Here are the latest developments

Shares of Panacea Biotec surged more than 15% in intraday trade on Tuesday, June 9, after the company announced the launch of an European Union-funded project aimed at advancing the regulatory approval and global access of its dengue vaccine candidate, DengiAll.

This is the sixth straight day of gains for the stock, during which it has already risen 56%, including a 20% upper circuit on June 4.

Why Are Panacea Biotech Shares Rising?

In an exchange filing on Monday, Panacea Biotec said the newly launched DENSTAR (Dengue Efficacy and Safety Trial in African Region) project will work towards securing licensure of DengiAll in sub-Saharan Africa and facilitating broader global access to the vaccine.

The four-year initiative is funded under the Global Health European & Developing Countries Clinical Trials Partnership 3 Joint Undertaking (GH EDCTP3 JU), which is supported by the European Union.

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The project will run for 48 months starting June 1, 2026, and has received funding of over €11 million from the GH EDCTP3 programme.

"Dengue infections can range from mild to potentially fatal in the most severe cases. It is becoming more common in sub-Saharan Africa, driven primarily by climate change," said Ellis Owusu-Dabo, Scientific Project Lead of DENSTAR.

Panacea Biotec Chief Scientific Officer Khalid Ali Syed said the project is expected to help reduce the global dengue burden while improving access to preventive healthcare.

The project brings together a consortium of 10 partners from nine countries across Europe, Africa, the United States, India and South Korea. The consortium is coordinated by Italy-based Sclavo Vaccines Association and includes institutions such as Johns Hopkins University, the National Institute of Allergy and Infectious Diseases (NIAID), the International Vaccine Institute, and research organisations in Ghana, Gabon, Mozambique and the Democratic Republic of Congo.

Panacea Biotec is a key partner in the consortium as the developer of DengiAll, a tetravalent live-attenuated dengue vaccine candidate targeting all four dengue virus serotypes and currently in late-stage development in India.

Under the DENSTAR project, the consortium plans to conduct Phase I/III studies in healthy African adults and children to evaluate the vaccine's safety and effectiveness in the region. The programme will also assess efficacy against Dengue Virus Serotype 4 (DENV-4) using Controlled Human Infection Models (CHIMs), an area where no dengue vaccine has yet demonstrated protection.

According to the company, DengiAll offers several advantages for deployment in low- and middle-income countries. The vaccine is designed as a single-dose shot, is cost-efficient to manufacture and does not require prior serological testing before administration, potentially making it easier to deploy at scale.

Shares of Panacea Biotech are trading 14.3% higher on Tuesday at ₹631.9. The stock is trading at a 52-week high and majority of its 67% advance in 2026 so far has come in the last six trading sessions.