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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/.

News

Intelligent Bio Solutions Inc. Reports Fiscal 2024 Third Quarter and Nine-Month Financial Results and Operational Highlights

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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. Announces Preliminary Unaudited Fiscal Third Quarter and Nine-Month Revenue Results

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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 Subsidiary Broadens Intellectual Property Portfolio with Grant of New European Patent with Unitary Effect for Innovative Intelligent Fingerprinting DSR-Plus Cartridge Reader

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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 to Present at the LD Micro Invitational XIV Investor Conference on April 9 in NYC

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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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Intelligent Bio Solutions Announces Closing of $10.1 Million Private Placement Priced At-the-Market Under Nasdaq Rules

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Intelligent Bio Solutions Inc. (INBS) closed a private placement offering, raising $10.1 million through the sale of 2,223,333 shares of common stock and warrants. The funds will be used for general corporate purposes, including advancing clinical trials for their Intelligent Fingerprinting Drug Screening System and market expansion.
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Intelligent Bio Solutions Announces $10.1 Million Private Placement Priced At-the-Market Under Nasdaq Rules

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Intelligent Bio Solutions Inc. (INBS) entered into securities purchase agreements with investors for a private placement, issuing 2,223,333 shares of common stock at $4.55 per share, expecting gross proceeds of approximately $10.1 million. The Series H-1 and Series H-2 warrants included in the agreement have specific terms for exercise and expiration, with Ladenburg Thalmann & Co. Inc. as the exclusive placement agent.
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Intelligent Bio Solutions Inc. to Present at the Emerging Growth Conference on March 6, 2024

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Intelligent Bio Solutions Inc. (INBS) announces its participation in the Emerging Growth Conference on March 6, 2024, where the company will discuss its growth and financial performance in 2023. Spiro Sakiris, the CFO, will present during the event.
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Intelligent Bio Solutions Partners with Cliantha Research to Conduct Clinical Study as Part of FDA 510(k) Pathway

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Intelligent Bio Solutions Inc. (INBS) partners with Cliantha Research to conduct a pharmacokinetic study as part of the FDA 510(k) clinical study plan. The study aims to compare opiate levels in fingerprint sweat, blood, oral fluid, and urine specimens. The Company's Intelligent Fingerprinting Drug Screening System will be used for analysis. Recruitment for the study is expected to start in March 2024, with results anticipated by June 2024.
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Intelligent Bio Solutions Inc. Regains Compliance with Nasdaq Minimum Bid Price Requirement and Confirms Compliance with Minimum Stockholders’ Equity Requirement

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Intelligent Bio Solutions Inc. (INBS) has regained compliance with Nasdaq Listing Rule 5550(a)(2) and 5550(b)(1), ensuring continued listing on Nasdaq. The company maintained a minimum bid price of $1.00 per share for 11 consecutive business days and met the minimum stockholders' equity requirement of $2.5 million. Nasdaq confirmed compliance after the filing of the company's Quarterly Report on Form 10-Q for the period ended December 31, 2023.
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Intelligent Bio Solutions Inc. Reports Fiscal Second Quarter and Six-Month Financial Results and Operational Highlights

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Intelligent Bio Solutions Inc. (INBS) reports a substantial revenue increase of 114% for the fiscal second quarter and 337% for the six months ending December 31, 2023. The company expanded into the New Zealand market, increasing market share in existing regions. Product sales grew significantly, with a 30% increase for cartridges and 91% for readers. Fiscal highlights include entering the New Zealand market, expanding the customer portfolio, and achieving accreditation for fingerprint confirmatory drug testing. Despite revenue growth, net loss attributable to INBS rose by $2.76 million due to operational results post-acquisition of Intelligent Fingerprinting Ltd. The company raised $4.38 million through a public offering, ending the quarter with $1.12 million in cash and cash equivalents.
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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 $1.41 as of November 4, 2024.

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

The market cap of Intelligent Bio Solutions (INBS) is approximately 5.9M.

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.

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Intelligent Bio Solutions Inc.

Nasdaq:INBS

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INBS Stock Data

5.95M
4.25M
3.02%
14.38%
8.69%
Medical Devices
Surgical & Medical Instruments & Apparatus
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United States of America
NEW YORK