The most common and most likely answer to this crossword clue is the 15 letter word HYPERVENTILATED
I've seen this crossword clue in The Guardian
H
Y
P
E
R
V
E
N
T
I
L
A
T
E
D
More clues leading to the result HYPERVENTILATED
Buddy explains!

The straight part
We know that "showed sign of panic" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case showed sign of panic = hyperventilated.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does HYPERVENTILATED mean?
HYPERVENTILATED verb- To breathe quickly and deeply, especially at an abnormally rapid rate.