Intelligent Bio Solutions Inc Stock Price, News & Analysis

Intelligent Bio Solutions (Nasdaq: INBS) has submitted additional information to the FDA as part of its 510(k) clearance process for its fingerprint sweat-based drug screening technology. The submission includes extensive new cybersecurity and performance data, comprising 23 test reports and over 100 supporting attachments totaling more than 1900 pages.

The company invested 10,000 hours in data collection and conducted intensive cybersecurity testing, including penetration and electromagnetic compatibility testing. The technology's accuracy was reaffirmed using advanced quantification methods, including human eccrine sweat testing with an Ultra-Micro Balance scale.

Currently used across 450 accounts in 24 countries, INBS expects an FDA response within six weeks and aims to enter the multi-billion-dollar U.S. market in 2025, focusing initially on its opiate test system for codeine.

Intelligent Bio Solutions (Nasdaq: INBS) has secured a significant contract with a major London transport operator to implement its Intelligent Fingerprinting Drug Screening System across 14 operational sites serving over 4,400 staff. The transport operator manages a fleet of 1,400+ low-emission vehicles and serves more than one million passengers daily.

The company's drug testing technology is currently utilized by 450+ accounts across 24 countries through 18 distribution partners. INBS is actively expanding globally and pursuing FDA clearance for planned entry into the U.S. market in 2025.

Intelligent Bio Solutions (Nasdaq: INBS) has secured agreements to raise $3.8 million in gross proceeds through warrant exercises at a reduced price of $1.90 per share. The transaction involves current warrant holders exercising or prepaying existing warrants for 2,023,228 shares of common stock.

As part of the deal, participating holders will receive new Inducement Warrants for up to 4,046,456 shares at $1.90 per share, exercisable for 5.5 years after stockholder approval. The company plans to use the proceeds to complete its 510k filing with the FDA for its Fingerprint Drug Screening System and for working capital purposes. The transaction is expected to close around July 28, 2025.

Intelligent Bio Solutions (Nasdaq: INBS) announced new data strengthening its FDA 510(k) submission for its Intelligent Fingerprinting Drug Screening System. The company completed extensive cybersecurity and electromagnetic compatibility testing to validate system resilience. Using an Ultra-Micro Balance scale capable of measuring 0.0000001 grams, INBS confirmed its technology's ability to detect and analyze trace levels of fingerprint sweat.

The R&D team has invested over 6,000 hours into testing, data aggregation, analysis, and technical reporting. INBS currently supports more than 450 accounts across 24 countries with 18 distribution partners. The company plans to enter the U.S. market in 2025, pursuing FDA clearance for its opiate test system for codeine.

Intelligent Bio Solutions (Nasdaq: INBS) has signed a global distribution agreement with SMARTOX to distribute its SmarTest Patch drug detection product internationally, excluding the US and Canada. The partnership expands INBS's product portfolio in non-invasive drug testing solutions, specifically targeting justice and rehabilitation sectors.

The agreement builds on existing collaboration with SMARTOX, which currently distributes INBS's Intelligent Fingerprinting Drug Testing Solution in the US Forensic Use Only market. The global drug testing market is projected to reach $18.6 billion by 2030. INBS currently serves over 450 active accounts in 24 countries.

The company continues to pursue FDA clearance for its fingerprint sweat-based drug testing technology in the US market beyond Forensic Use Only applications.

Intelligent Bio Solutions (Nasdaq: INBS) has expanded its non-invasive drug testing portfolio with the addition of the SmarTest® Patch, a wearable device developed by SMARTOX®. The innovative patch enables continuous drug detection through sweat over 7-10 days and can detect substances including cocaine, opiates, methamphetamines, marijuana, and fentanyl.

The water-resistant and tamper-evident patch complements INBS's flagship Intelligent Fingerprinting Drug Testing Solution, offering customers flexibility in detection timeframes while maintaining a non-invasive approach. The product expansion particularly targets justice and rehabilitation settings outside the U.S., strengthening the company's position in the non-invasive testing market.

Intelligent Bio Solutions (Nasdaq: INBS) announced it will present Pharmacokinetic (PK) study data at the ADLM 2025 Clinical Lab Expo in Chicago from July 27-31. The study demonstrates that their Intelligent Fingerprinting Drug Screening System effectively detects codeine through fingerprint sweat analysis, with results closely matching blood-based testing at a 95% confidence level.

The company's non-invasive drug screening technology is currently used across 450 accounts in 24 countries, serving various sectors including construction, transportation, and manufacturing. The presentation will be delivered by Daniel Brown, Head of Clinical Affairs, in the ADLM Poster Hall, featuring over 700 presentations.

Intelligent Bio Solutions (Nasdaq: INBS) reported successful expansion of its fingerprint drug testing technology across Scandinavia through its partnership with Spjotgard. The company's Drug Screening System, which delivers results in under 10 minutes using fingerprint sweat, has gained traction across 450 accounts in 24 countries.

The technology is being adopted across various sectors including logistics, construction, warehousing, education, and criminal justice. Spjotgard, founded in 2021, has established a strong presence in Sweden, Norway, and Denmark, with growing interest in Finland. The system offers advantages over traditional drug testing methods, providing a non-invasive, hygienic, and efficient solution for workplace safety and education sectors.

Intelligent Bio Solutions (NASDAQ: INBS) announced that Managed Waste Service (MWS), a major Australian waste management provider, will implement INBS' Intelligent Fingerprinting Drug Screening System across 20+ New South Wales operations sites. The system enables rapid, non-invasive drug testing through fingerprint sweat analysis in under 10 minutes, allowing MWS to conduct pre-employment, random, and for-cause testing on-site. This marks MWS's first implementation of in-house drug testing across multiple locations. The technology provides a portable, scalable solution that aligns with fieldwork requirements, eliminating the need for outsourced testing models. INBS' fingerprint drug testing technology is currently used by over 450 organizations across 24 countries.