Panacea Biotec Limited shares hit a day high of Rs 640.55 on the NSE on 9 June, riding six straight sessions of gains, after the company announced its dengue vaccine candidate has been chosen for a major international research project backed by the European Union.

The project is called DENSTAR, short for Dengue Efficacy and Safety Trial in African Region. It kicked off on 1 June 2026 and will run for four years. 

The goal is to get Panacea’s DengiAll vaccine licensed for use across sub-Saharan Africa, a region where dengue cases have been increasing in recent years, with climate-related factors contributing to the spread of the disease.

Funding for the project stands at over €11 million, coming from the GH EDCTP3 programme supported by the EU.

Ten institutions across nine countries are part of the consortium, including Johns Hopkins University, the National Institute of Allergy and Infectious Diseases in the US, and the International Vaccine Institute in South Korea. 

Research organisations in Ghana, Gabon, Mozambique and the Democratic Republic of Congo are also involved. The consortium is coordinated by Italy-based Sclavo Vaccines Association.

What makes DengiAll stand out is its simplicity. It’s a single-dose shot, doesn’t need a blood test before administration, and is designed to be affordable to manufacture. Those features matter a lot in countries where large-scale public health rollouts need to be quick and low-cost.

Under DENSTAR, the consortium will run Phase I and Phase III studies on healthy African adults and children. 

The programme will also evaluate protection against a fourth dengue serotype, an area where improved vaccine coverage remains an important research objective. Separately, Panacea is already running a Phase III trial in India across 19 sites in 18 states, in collaboration with ICMR.

The stock has gained 56% over the last six sessions, including a sharp 20% gain on 4 June. It’s also at a fresh 52-week high, with the 52-week low of Rs 292.40 recorded in March 2026. 

At 13:26 pm on 9 June, shares of Panacea Biotec were trading up 13.97% at Rs 630.15, just off the session high of Rs 640.55.

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