Panacea Biotec gets a booster dose after this news!

So, what’s the buzz in the stock?   

The stock of Panacea Biotec was seen outperforming the broader market indices on Monday as it jumped nearly 4 per cent along with a substantial rise in the daily volumes.   

So, what’s the buzz in the stock?   

Panacea Biotec Ltd informed that Coalition for Epidemic Preparedness Innovations (CEPI) today announced the latest award under its USD 200 million programme, launched in March 2021, to advance the development of vaccines that provide broad protection against SARS-Cov-2 variants and other Betacoronaviruses.   

CEPI will partner with a consortium comprised of Translational Health Science & Technology Institute (THSTI), an autonomous institute of the Department of Biotechnology, Ministry of Science & Technology, Government of India and Panacea Biotec, to develop vaccine candidates that could provide broad protection against SARS-Cov-2 variants as well as other Betacoronaviruses.   

CEPI will provide funding of up to USD 12.5 million to support the development of multi-epitope, nanoparticle-based vaccine candidates, and advance the manufacturing process.  

The stock climbed nearly 5 per cent on a YTD basis while on an MTD basis, it corrected around 13.5 per cent.