Panic seems to last forever, until you use an item to cure it or get killed
Too OP
Viewing post in Dungeons of Rhamdon II BETA jam comments
All status ailments last the same, except when you take Body and Mind Ailment resistance into account. A low INT character will be much more susceptible to Mind ailments, like Panic.
In any case, stopping or avoiding spells, and carrying potions to cure ailments, is an essential part of the strategy. There's many more ways to die other than just straight damage!