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Intelligent Bio Solutions Inc. - INBS STOCK NEWS

Welcome to our dedicated page for Intelligent Bio Solutions news (Ticker: INBS), a resource for investors and traders seeking the latest updates and insights on Intelligent Bio Solutions stock.

Intelligent Bio Solutions Inc. (INBS) is a progressive life sciences company committed to enhancing health care through innovative non-invasive diagnostic tests. The company's primary focus lies in developing real-time monitoring solutions that aid patients and health practitioners in managing chronic diseases efficiently. Through its cutting-edge Biosensor Platform, Intelligent Bio Solutions Inc. is pioneering diagnostic tests that are urgently required to improve patient outcomes and streamline medical diagnostics.

One of the company's significant advancements is in the realm of portable drug abuse testing. Utilizing fingerprint sweat analysis, INBS offers a non-invasive, hygienic, and rapid drug screening solution. This technology is engineered to detect the recent use of substances such as opioids, cocaine, methamphetamines, benzodiazepines, and marijuana, making it an invaluable tool in both clinical and legal settings.

Intelligent Bio Solutions Inc. has demonstrated substantial growth and success, as evidenced by an impressive year-over-year unaudited revenue increase of 80% for the fiscal third quarter and 193% for the nine months ending March 31, 2024. The company also reported its highest quarterly cartridge sales since acquiring Intelligent Fingerprinting in 2022, highlighting the growing demand and effectiveness of its products.

For more information, visit: http://www.ibs.inc/.

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Intelligent Bio Solutions (Nasdaq: INBS) has announced a strategic reorganization plan aiming to support its global growth initiatives, especially its planned entry into the U.S. market in 2025. The company will transition from a UK-based model to a global framework, leveraging its diverse international team to enhance efficiency and collaboration. This restructuring includes breaking down operational regions into silos to improve resource alignment and streamline operations. INBS is known for its innovative non-invasive drug testing solutions using fingerprint sweat, providing rapid results for common drugs of abuse.

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Intelligent Bio Solutions (Nasdaq: INBS) announced the integration of its Intelligent Fingerprinting Drug Screening System by a major European transport and infrastructure provider within its UK operations. This strategic move aims to enhance employee safety and operational efficiency through rapid, non-invasive drug testing. Previously reliant on sporadic urine testing with a two-hour response time, the new system allows for quick, on-site random testing. The addition of this prominent client underscores the growing adoption of INBS' innovative technology in the transport sector. VANTEC Europe , an existing customer, has used the system since 2021, reporting positive outcomes. INBS' solution tests for common drugs, including cocaine, cannabis, methamphetamine, and opiates, providing results in minutes.

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Intelligent Bio Solutions (Nasdaq: INBS) will participate in the Sidoti Small-Cap Conference on June 12-13, 2024. The medical technology company, known for its intelligent, rapid, non-invasive testing solutions, will have its management team present on June 12 at 4:00 p.m. Eastern Time. The event will be held virtually, and attendees can register via a provided webcast link. For more information or to arrange one-on-one meetings with the INBS management team, interested parties can contact Sidoti representatives or email KCSA Strategic Communications.

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Intelligent Bio Solutions (Nasdaq: INBS) has successfully recruited subjects and begun screening for its pharmacokinetic (PK) study, a important step in obtaining FDA 510(k) clearance. This study will enhance the understanding of opiate metabolism, distribution, and excretion in human sweat by comparing results from fingerprint sweat specimens with those from blood, saliva, and urine. The company aims to complete the screening phase by June 2024. The study is conducted in collaboration with Cliantha Research and utilizes INBS's non-invasive Intelligent Fingerprinting Drug Screening System.

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Intelligent Bio Solutions (INBS) reported significant growth in its UK operations, with revenues reaching approximately $2.38 million for the nine months ending March 31, 2024, marking a 193% year-over-year increase. The UK contributed to 93% of this revenue. Higher margin cartridge revenue accounted for 49% of total revenue. INBS expanded its customer base to over 400 clients across 15+ industries in the UK and acquired 111 new accounts within a year. The company's growth is driven by organic lead generation through B2B referrals. INBS plans to submit for FDA 510(k) approval and launch its product in the US by mid-2025. Drug test cheating, highlighted by a Quest Diagnostics report, underscores the necessity for INBS's rapid and reliable drug testing solutions.

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Intelligent Bio Solutions (Nasdaq: INBS) showcased its Intelligent Fingerprinting Drug Screening Solution at the UK's premier Health & Safety Event 2024. The event, featuring over 250 exhibitors and 11,500 attendees from major brands like Amazon and Rolls Royce, provided a platform for INBS to demonstrate its innovative technology. Key decision-makers, who constituted 77% of attendees, engaged with the solution, noting its pivotal role in enhancing workplace safety. Live demonstrations with clients like Stewart Osmond from WTW highlighted the technology's effectiveness in combating drug driving in the logistics sector. Discussions with a South American distributor suggested potential expansion into Chilean hospitals and emergency services. The event was marked as the most successful yet by INBS, validating the necessity and global relevance of their drug screening technology.

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Intelligent Bio Solutions Inc. (INBS) reported an 80% increase in revenue for the fiscal third quarter and a 193% increase for the nine months ended March 31, 2024. Cash and cash equivalents stood at $9.40 million. The company started FDA 510(k) clinical studies with Cliantha Research and aims for US entry in 2025. INBS secured 26 new customer accounts, totaling around 16,779 employees. The total revenue for the fiscal third quarter was $0.82 million, a 80% hike from the previous year. A net loss of $2.98 million was reported, including non-cash expenses. The Company raised approximately $10.76 million in the fiscal quarter. Financial highlights include growth in revenue from sales of goods and a decrease in net loss attributable to INBS. Operational highlights consist of significant partnerships and a new European patent for its technology.

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Intelligent Bio Solutions Inc. reports an 80% increase in revenue for the fiscal third quarter and a 193% increase for the nine months ended March 31, 2024. Cartridge and reader sales also see significant growth, with the highest quarterly cartridge sales since the 2022 acquisition of Intelligent Fingerprinting. The company's focus on drug testing solutions is highlighted, addressing the challenges posed by synthetic drugs like methamphetamine and fentanyl.
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Intelligent Bio Solutions Inc. (INBS) secures a new European patent for its DSR-Plus Cartridge Reader, enhancing its intellectual property portfolio. The technology offers non-invasive drug screening through fingerprint sweat analysis, catering to workplace and safety-critical industries. The patent validates the innovation and uniqueness of the technology, reinforcing the Company's global expansion strategy.
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Intelligent Bio Solutions Inc. (INBS) announces participation in the LD Micro Invitational XIV Investor Conference on April 8-9, 2024. President and CEO, Harry Simeonidis, and CFO, Spiro Sakiris, will present the company's non-invasive testing solutions.
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FAQ

What is the current stock price of Intelligent Bio Solutions (INBS)?

The current stock price of Intelligent Bio Solutions (INBS) is $1.36 as of December 24, 2024.

What is the market cap of Intelligent Bio Solutions (INBS)?

The market cap of Intelligent Bio Solutions (INBS) is approximately 6.0M.

What does Intelligent Bio Solutions Inc. specialize in?

Intelligent Bio Solutions Inc. specializes in developing non-invasive, real-time monitoring and diagnostic tests for managing chronic diseases and portable drug abuse testing.

What is the Biosensor Platform?

The Biosensor Platform is a technology developed by INBS for creating real-time diagnostic tests to assist in managing chronic illnesses and other medical conditions.

How does INBS's drug abuse testing technology work?

INBS uses fingerprint sweat analysis to offer a non-invasive, hygienic, and quick method of screening for recent drug use, including opioids, cocaine, and more.

What recent financial achievements has Intelligent Bio Solutions Inc. reported?

The company reported an 80% increase in year-over-year unaudited revenue for the fiscal third quarter and a 193% increase for the nine months ending March 31, 2024.

When did INBS achieve its highest quarterly cartridge sales?

INBS reported its highest quarterly cartridge sales since 2022, following the acquisition of Intelligent Fingerprinting.

Who are the primary contacts for Intelligent Bio Solutions Inc.?

Company-related inquiries can be directed to info@ibs.inc. For media-related queries, contact Cheryl Billson at cheryl.billson@commacomms.com or Valter Pinto at INBS@kcsa.com.

Where can I find more information about the company?

For more information about Intelligent Bio Solutions Inc., visit their official website at http://www.ibs.inc/.

What chronic diseases does INBS focus on with its diagnostic tests?

INBS focuses on creating diagnostic tests that assist in the management of various chronic diseases, though specific conditions are not detailed.

What substances can INBS's drug screening test detect?

INBS's drug screening test can detect recent use of opioids, cocaine, methamphetamines, benzodiazepines, and marijuana.

How does the fingerprint sweat analysis benefit users?

The fingerprint sweat analysis is non-invasive, hygienic, and fast, providing a convenient and reliable method for drug abuse testing.

Intelligent Bio Solutions Inc.

Nasdaq:INBS

INBS Rankings

INBS Stock Data

5.97M
4.26M
3.02%
14.38%
8.69%
Medical Devices
Surgical & Medical Instruments & Apparatus
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United States of America
NEW YORK