Intelligent Bio Solutions Inc Stock Price, News & Analysis

Intelligent Bio Solutions Inc. (Nasdaq: INBS) announced a partnership with Hozelock to implement a non-invasive fingerprint sweat-based drug testing system aimed at enhancing employee safety. This technology allows for rapid testing of recent drug use, including opioids and cannabis, enabling efficient HR management during seasonal staffing fluctuations. The system promotes a supportive drug policy endorsed by the Unite trade union, emphasizing dignity and privacy for employees. Results from tests can be obtained quickly, making it a convenient solution for safety-critical industries.

Intelligent Bio Solutions Inc. (INBS) has achieved a significant breakthrough in its biosensor platform, marking a 4x improvement in time-to-result (TTR), reducing it from 120 seconds to just 30 seconds. This milestone was validated at the University of Newcastle, Australia, where the platform was developed for non-invasive saliva-based diagnostics.

The enhancements include a new device architecture and ink that improves performance and reduces manufacturing costs. Additionally, the platform's limit of glucose detection has improved from 0.90 mg/dl to an impressive 0.36 mg/dl, opening pathways for diagnostic tests for hormones and cancers.

On December 22, 2022, Intelligent Bio Solutions (Nasdaq: INBS) announced the closure of a Regulation S private placement, raising expected gross proceeds of $220,585. The offering involved 176,462 shares of Series D Convertible Preferred Stock and 529,386 warrants, priced at $1.25 per unit, including one share of Preferred Stock convertible into three common shares and three warrants with an exercise price of $0.29. Proceeds will support general working capital needs. This transaction reflects the company's ongoing focus on developing non-invasive diagnostic testing solutions.

Intelligent Bio Solutions Inc. (Nasdaq: INBS) has announced the cancellation of its FY21 Annual Meeting originally set for June 16, 2022, due to lack of quorum. Instead, the company plans to hold its FY22 Annual Meeting virtually on or about February 8, 2023. This change comes as the company continues to develop its innovative Biosensor Platform and aims to address regulatory requirements to introduce diagnostic tests for chronic diseases. Shareholders are advised to refer to the SEC's Current Report for further details.

Intelligent Bio Solutions Inc. (Nasdaq: INBS) has acquired Intelligent Fingerprinting Limited, enhancing its drug screening technology portfolio. As of September 30, 2022, the company reported a preliminary net loss of $1.21 million, improving from a $1.43 million loss during the same period last year, aided by government support income. The company is advancing its Biosensor development with two clinical studies for saliva glucose testing and is constructing a new manufacturing facility in Australia. A conference call is scheduled for today at 4:30 p.m. ET.

Intelligent Bio Solutions Inc. (Nasdaq: INBS) announced the adoption of its fingerprint-based drug testing system by Glass Systems, a UK manufacturer. The system, capable of testing 1,000 employees across six sites, provides results in just ten minutes. This initiative aims to enhance workplace safety by enabling random and on-demand drug tests, ensuring employees are fit to operate machinery. The technology is positioned as a modern, non-invasive solution, promoting health and safety within the industry.

Intelligent Bio Solutions Inc. (Nasdaq: INBS) announced that Eastern Airways will implement a new fingerprint sweat drug testing method to comply with European Aviation Authority regulations. This portable and hygienic test allows for rapid screening of employees to ensure fitness for work, promoting adherence to the company's Drug and Alcohol policy. The process takes under a minute for sample collection and provides results in ten minutes. The system can be utilized in-house, enhancing flexibility and compliance.

Intelligent Bio Solutions Inc. (Nasdaq: INBS) will release its first quarter financial results for the period ending September 30, 2022, on November 9, 2022, after market close. Management will conduct a conference call and webcast at 4:30 p.m. ET to discuss the results. The call will be accessible via a toll-free number and live webcast links. The company, known for its non-invasive testing solutions, is focused on delivering critical diagnostic tests for chronic diseases and has recently acquired Intelligent Fingerprinting, enhancing its portable drug testing capabilities.

Intelligent Bio Solutions Inc. (Nasdaq: INBS) announced that Goldstar Transport has adopted fingerprint drug testing, replacing urine tests. This transition affects Goldstar's 600 drivers and aims to improve health and safety compliance across its 14 UK sites. The company purchased six Intelligent Fingerprinting portable readers for efficient in-house testing, yielding results in 10 minutes. The CEO of Intelligent Bio Solutions emphasized the rising importance of workplace screening amidst substance abuse concerns.