diff --git a/panel/package-lock.json b/panel/package-lock.json
index 2ed9b8e9ed..1dc96d67ab 100644
--- a/panel/package-lock.json
+++ b/panel/package-lock.json
@@ -1,12 +1,12 @@
 {
   "name": "@holoviz/panel",
-  "version": "1.2.2",
+  "version": "1.2.3-a.1",
   "lockfileVersion": 3,
   "requires": true,
   "packages": {
     "": {
       "name": "@holoviz/panel",
-      "version": "1.2.2",
+      "version": "1.2.3-a.1",
       "license": "BSD-3-Clause",
       "dependencies": {
         "@bokeh/bokehjs": "~3.2.0",
diff --git a/panel/package.json b/panel/package.json
index d756a27c69..01568d4697 100644
--- a/panel/package.json
+++ b/panel/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@holoviz/panel",
-  "version": "1.2.2",
+  "version": "1.2.3-a.1",
   "description": "The powerful data exploration & web app framework for Python.",
   "license": "BSD-3-Clause",
   "repository": {