From the introduction:
Panic is a pen and paper RPG revolving around vulnerability, running, and hiding. Panic works best as a two player game, but players can be introduced. Regardless of the number of people involved one person should take on the role of the Nightmare Weaver (often abbreviated to the NW) while the rest take the role of players. The Nightmare Weaver creates the world around the players, controls the stalker, sets up the story, and takes control of all the behind the scenes stuff. The players create player characters (often abbreviated to PCs) to take a central role in the story, they control all of their character’s thoughts and actions, and hopefully can help them to survive.