Panacea Biotec hit an upper circuit of 5% at Rs 196.80 after the company announced successful completion of its Phase I/II study to evaluate the safety and immunogenicity of its vaccine, DengiAlI, a single-dose live-attenuated tetravalent vaccine.
The vaccine induced robust, balanced neutralizing antibody responses against all the four Dengue virus serotypes. It has been found to be safe and well-tolerated with no serious adverse effects. After a single-dose, more than 80% of the participants showed more than a Tri-valent response and "'95% showed a multivalent response, the company said in a statement.According to the World Health Organization, Dengue represents one of the ten biggest global health threats, and it is critical that we have access to a safe and effective vaccine candidate that can reduce the devastating impact of Dengue fever in endemic regions.
Speaking on the occasion, Dr. Rajesh Jain, managing director, said "DengiAll's Phase 1/11 study results are even more important in the context of the Covid-19 pandemic. Co-infection of Dengue and Covid-19 in a Dengue endemic India may complicate approach to treatment and strain health care infrastructure. Panacea Biotec has already approached the DGCI to seek accelerated review of its data to bring DengiAIl to market quickly and reduce burden on our healthcare infrastructure."
Panacea Biotec's net loss stood at Rs 8.84 crore in Q1 June 2020 as compared with a net loss of Rs 29.21 crore in Q1 June 2019. Net sales jumped 208.10% to Rs 76.48 crore in Q1 June 2020 over Q1 June 2019.
Panacea Biotec is an innovation-led biotechnology group that focuses on discovery, development, and commercialisation of prescription medicines.
Shares of Panacea Biotec have surged 126.83% from the 52-week low of Rs 86.76 hit on 13 March 2020. On the technical front, the stock's RSI (relative strength index) stood at 51.683. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading between its 50-day moving average (DMA) placed at 197.35 and its 200-day moving average (DMA) placed at 156.90.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU