The most common and most likely answer to this crossword clue is the 5 letter word SCARE
S
C
A
R
E
More clues leading to the result SCARE
- Unsightly mark on European causing fright
- Sudden attack of fright is small worry
- Bit of sudden worry could provide one
- Achievement of horror film recognised in Oscar eventually
- Shock Mark with drug
- Evidence of damage to Spain
- Second caution causes alarm
- Panic when spot is discovered on middle of cheek
- Society with a cause for worry in shock
- Frighten son with automobile emissions, at first
Buddy explains!

The straight part
We know that "Panic" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case panic = scare.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 SCARE mean?
SCARE noun- A minor fright.
- A cause of slight terror; something that inspires fear or dread.
- A device or object used to frighten.
- To frighten, terrify, startle, especially in a minor way.
- Lean; scanty