Shares of Panacea Biotec saw strong buying interest on Thursday, with the pharma stock rallying nearly 14% in intraday trade after the company said its dengue vaccine candidate had entered the final phase of clinical trials.

In an exchange filing, the homegrown drugmaker announced the completion of enrolment for the phase III clinical trial of its tetravalent dengue vaccine, DengiAll.

“This is in continuation of our earlier communication dated August 14, 2024, regarding the initiation of the Phase III clinical trial of Panacea Biotec Limited’s tetravalent dengue vaccine candidate, DengiAll, in India,” the company said.

According to Panacea Biotec, DengiAll, the India’s first indigenous single-shot dengue vaccine, is expected to be commercially launched by 2027.

The company said enrolment for the phase III clinical trial of DengiAll has been completed, with 10,335 study participants recruited. It added that each participant will be monitored for a period of two years following administration of the investigational medicinal product - either the vaccine or a placebo - to assess the efficacy and immunogenicity of the dengue vaccine candidate.

Shares surge 33% in a month

Boosted by the development, Panacea Biotec shares surged as much as 13.82% to ₹436.75 on the BSE. Finally, the smallcap pharma stock settled at ₹435.55, up 13.51%, with a market capitalisation of ₹2,668 crore.

The shares of Panacea Biotec touched its 52-week high of ₹581 on May 15, 2025, and a 52-week low of ₹282.15 on February 28, 2025. The stock has delivered a negative return of 3% in the past one year, while it has risen 8% in six months and 33% in the last one month.

The stock witnessed strong volume, with 17.67 lakh shares changing hands over the counter, nearly three times the two-week average volume of 5.32 lakh shares.

Early-stage trials show positive results

Panacea Biotec has developed a lyophilised tetravalent live-attenuated dengue vaccine in collaboration with the National Institute of Allergy and Infectious Diseases (NIAID) under the U.S. National Institutes of Health (NIH). It is a single-dose, subcutaneous vaccine, analogous to the NIH’s tetravalent dengue vaccine candidate ‘TV003’.

As per the data available on the company’s website, Panacea Biotec completed its Phase I and II, double-blind, placebo-controlled, randomised, multicentre clinical study for DengiAll in September 2020, enrolling 100 healthy adult volunteers aged between 18 and 60 years across three sites—Pondicherry Institute of Medical Sciences, KLES Hospital & MRC in Belagavi, and King George’s Medical University in Lucknow. Subjects were randomised in a 3:1 ratio between vaccine and placebo groups and received a single 0.5 ml subcutaneous dose.

The Phase I and II study demonstrated that DengiAll was safe and well tolerated, with most adverse events being mild to moderate and resolving without sequelae. No serious adverse events were reported.

On immunogenicity, 77–82% of participants achieved seroconversion across all four dengue serotypes, while nearly 95% showed a multivalent antibody response. About 81% achieved trivalent or tetravalent responses. Importantly, neutralising antibody titres remained above baseline levels even 180 days post-vaccination, indicating persistence of protective immunity.

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