Shares of Panacea Biotec rose over 15% on June 9 following the announcement of a European Union-funded project to advance the regulatory approval and global access of its dengue vaccine candidate, DengiAll. This marks the sixth consecutive day of gains for the stock, which has increased by 56% during this period.
The DENSTAR project, aimed at securing licensure for DengiAll in sub-Saharan Africa, will last four years and is backed by more than €11 million in funding from the Global Health European & Developing Countries Clinical Trials Partnership. The project involves a consortium of 10 partners and plans to conduct Phase I/III studies to evaluate the vaccine’s safety and effectiveness.
DengiAll is a tetravalent live-attenuated vaccine designed for easy deployment, offering cost-efficiency and requiring no prior testing for administration—ideal for low- and middle-income countries.
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