Panacea Biotec has launched the DENSTAR project to advance the licensure of its tetravalent dengue vaccine, DengiAll, in sub-Saharan Africa and facilitate its broader global use. The four-year initiative, funded under the Global Health European & Developing Countries Clinical Trials Partnership 3 Joint Undertaking (GH EDCTP3 JU) and supported by the European Union, aims to combat Neglected Tropical Diseases and reduce the disease burden across Africa. The project is scheduled to run for 48 months starting June 1, 2026.

DENSTAR Consortium

The DENSTAR consortium unites 10 partners from nine countries, including universities, research organizations, and a biotech company. It is coordinated by the Sclavo Vaccines Association, a non-profit organization based in Italy. Panacea Biotec, the developer of DengiAll, serves as a key partner in this public-private partnership. The consortium will conduct Phase I/III studies in healthy African adults and children to confirm the vaccine's safety and efficacy. The project also seeks to address critical knowledge gaps by evaluating vaccine efficacy against Dengue Virus serotype 4 (DENV-4) using Controlled Human Infection Models (CHIMs).

DengiAll is a single-dose, live-attenuated vaccine targeting all four dengue virus serotypes, currently in late-stage development in India. The vaccine is designed to be cost-efficient to manufacture and suitable for large-scale deployment without requiring prior serological testing.

Project Details

The following table outlines the key parameters of the DENSTAR project:

Key Participants

The consortium brings together leading institutions across nine countries:

• Sclavo Vaccines Association ETS (Italy)
• Panacea Biotec Limited (India)
• Kwame Nkrumah University of Science and Technology (Ghana)
• Universitätsklinikum Heidelberg (Germany)
• National Institute of Allergy and Infectious Diseases (United States)
• International Vaccine Institute (Republic of Korea)
• Centre de Recherches Medicales de Lambaréné (Gabon)
• Instituto Nacional de Saúde (Mozambique)
• Johns Hopkins University (United States)
• Institut National De Recherche Biomedicale Du Zaire (Democratic Republic of the Congo)

Panacea Biotec Limited reported a consolidated net loss of ₹716 lakh for the financial year ended March 31, 2026, narrowing from a loss of ₹872 lakh in the previous year. The standalone entity reported a net loss of ₹2,988 lakh for FY26. Total consolidated income from operations rose to ₹63,977 lakh from ₹55,909 lakh in FY25. The board passed over the dividend for the financial year on equity and preference shares due to losses incurred during the year.

The board appointed Mr. Rajinder Singh Manku as an additional non-executive independent director for a term of five years effective July 1, 2026, subject to shareholder approval. The meeting was held on May 30, 2026, where the standalone and consolidated audited financial results were approved. The statutory auditors provided an unmodified opinion on the results.

Financial Performance

The company’s consolidated total income for FY26 stood at ₹65,667 lakh, compared to ₹57,975 lakh in the previous year. For the quarter ended March 31, 2026, the company reported a consolidated net loss of ₹100 lakh, while the standalone net loss was ₹18 lakh. Total comprehensive income for the consolidated entity for the year was a loss of ₹174 lakh.

Segment Performance

The Vaccines segment reported revenue of ₹41,025 lakh for FY26, while the Formulations segment recorded revenue of ₹22,952 lakh. The Vaccines segment reported a loss before tax of ₹2,684 lakh, whereas the Formulations segment reported a profit before tax of ₹1,947 lakh.

Auditor's Report and Going Concern

The statutory auditors, Suresh Surana & Associates LLP, highlighted a material uncertainty related to the company's ability to continue as a going concern due to incurred losses and negative retained earnings. The standalone retained earnings were negative to the extent of ₹21,782 lakh as on March 31, 2026. However, management prepared the financial results on a going concern basis based on future projections and confirmed orders.

Regulatory Disclosures

The company published the extract of the audited standalone and consolidated financial results for FY26 in Business Standard and Desh Sewak on June 01, 2026. The filing was made in compliance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.