Panacea Biotech shares hit 5% upper circuit after dengue vaccine completes phase I & II study

Panacea Biotech share price hit 5 percent upper circuit on the BSE on September 24 after the company completed phases I and II study of its dengue vaccine candidate DengiAIl.

"Panacea Biotec Ltd. is delighted to announce the successful completion of its Phase I/II study to evaluate the safety and immunogenicity of its vaccine, DengiAll, a single-dose liveattenuated tetravalent vaccine," the company said in an exchange filing.

Live-attenuated vaccines contain weakened bacteria or viruses that trigger an immune response but do not cause disease.

The company said DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes. DengiAIl has been found to be safe and well-tolerated with no serious adverse effects, the company said.

After a single-dose, more than 80 percent of the participants showed more than a tri-valent response and around 95 percent showed a multivalent response, the company added.

The stock was trading at Rs 196.80, up Rs 9.35, or 4.99 percent. It has touched an intraday high of Rs 196.80 and an intraday low of Rs 182. There were pending buy orders of 297 shares, with no sellers available.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has low debt and has shown growth in net profit with increasing profit margin (QoQ).

Moneycontrol technical rating is bullish with moving averages being bullish and technical indicators neutral.

Disclaimer: The views and investment tips expressed by experts on moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​