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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 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 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. (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 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. (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. (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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Intelligent Bio Solutions Inc. (INBS) has entered into an agreement with warrant holders to exercise certain existing Series E Warrants, resulting in the purchase of 606,064 shares of common stock. The gross proceeds to the company are expected to be approximately $1.77 million. The exercising holders will receive new unregistered warrants to purchase shares of common stock in a private placement. The company intends to use the net proceeds for working capital and general corporate purposes. Ladenburg Thalmann & Co. Inc. acted as the exclusive placement agent for the warrant exercise transaction.
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Intelligent Bio Solutions Inc. (INBS) reports a 114% increase in revenue for the fiscal second quarter and a 337% increase for the six months ended December 31, 2023. The company expects unaudited revenue of $1.56 million for the six months, a significant rise from the previous year. INBS also anticipates a 30% rise in cartridge sales and a 91% rise in reader sales. The company's expansion into new markets and global footprint has contributed to the revenue growth, with plans for further expansion in the Asia-Pacific region. The positive revenue growth numbers reflect the increasing demand for the company's drug screening solution and its aim to maintain this upward trajectory throughout 2024.
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Intelligent Bio Solutions Inc. (INBS) reports that customers in construction, manufacturing, and logistics are experiencing operational benefits, including cost reductions and improved productivity, after deploying the Intelligent Fingerprinting Drug Screening System. The system offers a non-invasive, quick, and easy solution for workplace drug testing, leading to significant savings for companies like P&O Ferries, Auctus Management Group, DGP Plc, and Robinson Brothers.
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Intelligent Bio Solutions Inc. (INBS) announces that leading UK timber processor and packaging manufacturer, James Jones & Sons Ltd, is implementing the revolutionary portable Intelligent Fingerprinting Drug Screening System for in-house drug testing. The system will be used across all 25 UK locations, covering 1,300 employees and enabling a random testing program to support the company's new substance misuse policy. The system offers non-invasive, rapid, and cost-effective testing, providing results in just ten minutes. The company has purchased 11 systems for deployment and is considering expanding its use to its Australian operations.
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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
United States of America
NEW YORK