Intelligent Bio Solutions Inc Stock Price, News & Analysis

Intelligent Bio Solutions (INBS) announced positive results from its Pharmacokinetic (PK) study, a important step towards FDA 510(k) submission. The study demonstrated that fingerprint sweat effectively mirrors codeine levels in blood and saliva, validating it as a reliable sample matrix for drug detection. The study involved 39 diverse subjects and utilized LC-MS/MS analysis. Statistical comparisons at 95% confidence level showed quantitative PK data closely aligned with blood samples. Upon FDA 510(k) clearance, INBS plans to launch its non-invasive drug screening technology in the US market in 2025, targeting safety-critical industries, law enforcement, and rehabilitation sectors.

Intelligent Bio Solutions (NASDAQ: INBS) reported fiscal Q1 2025 results with total revenue of $0.87 million, up 10% year-on-year and 20% quarter-on-quarter, marking four consecutive quarters of growth. Higher-margin cartridge sales surpassed reader revenue as the primary revenue driver. The company completed the in-clinic portion of its FDA 510(k) clinical study and plans submission by year-end. Net loss increased to $2.70 million from $2.43 million year-over-year, primarily due to R&D investments for FDA studies. Cash position stood at $3.99 million as of September 30, 2024. The company secured 22 new accounts and expanded its distribution network in Saudi Arabia.

Intelligent Bio Solutions (Nasdaq: INBS) has partnered with B2i Digital to launch an investor-focused marketing campaign. The initiative aims to raise awareness of INBS' patented drug screening technology, which provides a non-invasive alternative to traditional drug tests. B2i Digital will implement digital marketing strategies to highlight the company's Intelligent Fingerprinting Drug Screening System, which is expected to enter the U.S. market in 2025 following FDA 510(k) submission and anticipated clearance. The campaign will focus on reaching healthcare technology investors and emphasize INBS' growing revenue and planned market expansion.

Intelligent Bio Solutions (INBS) reported preliminary unaudited Q1 FY2025 revenue of $0.87 million, showing a 10% year-on-year and 20% quarter-on-quarter growth. The company's Intelligent Fingerprinting Drug Screening System's cartridge sales are expected to become the primary revenue driver, offering higher profit margins than reader sales. With over 400 active customer accounts, INBS is experiencing growing recurring revenue. Global sales are projected to increase by 15% year-on-year, supported by expanded distribution in Saudi Arabia. Final Q1 results will be released in November 2024.

Intelligent Bio Solutions (INBS) celebrates one year of successful partnership with Mount Anvil, a London-based property developer, implementing their Intelligent Fingerprinting Drug Screening Solution. Mount Anvil, managing approximately 220 employees and 1000 supply chain workers daily, has purchased 5 readers and 1750 cartridges for on-site testing within the first year.

The non-invasive technology analyzes fingerprint sweat samples, delivering results within minutes without requiring specialized facilities. With over 400 customers across 19 countries, INBS plans FDA 510(k) submission in Q4 2024 and US market entry in H1 2025, targeting a drug screening market estimated at $15 billion by 2030.

Intelligent Bio Solutions Inc. (NASDAQ: INBS), a medical technology company specializing in rapid, non-invasive testing solutions, has announced its participation in the LD Micro Main Event XVII. The event is scheduled for October 28-30, 2024, at the Luxe Sunset Boulevard Hotel in Los Angeles.

INBS management will deliver a presentation on October 30 at 10:00 a.m. PT on Track 3. Investors can access the webcast through the company's investor relations website. Additionally, the management team will be available for one-on-one meetings with the investment community during the event. Interested parties can schedule meetings through their LD Micro representative or by contacting KCSA Strategic Communications via email at INBS@kcsa.com.

Intelligent Bio Solutions Inc. (Nasdaq: INBS) has announced that Pyrotek Pty , a global engineering solutions leader, has adopted INBS' non-invasive Intelligent Fingerprinting Drug Testing Solution across its Australian branches. This transition from traditional saliva testing to INBS' fingerprint sweat-based method will enhance workplace safety protocols, minimize downtime, and deliver faster, more cost-effective results.

Pyrotek, with operations in over 35 countries and more than 3,000 employees, can now conduct in-house drug screening tests for its entire workforce, reducing reliance on external providers. The company plans to expand INBS' solution across its Australian locations after initial implementation in Sydney.

INBS is preparing for FDA 510(k) submission in Q4 2024 and aims to enter the US market in the first half of 2025, targeting a drug screening products market with an estimated Total Addressable Market of ~$15 billion by 2030.

Intelligent Bio Solutions Inc. (Nasdaq: INBS) has announced a distribution partnership with Spirit Group, an Australian Indigenous-owned marketing and consulting agency. Spirit Group will distribute INBS' Intelligent Fingerprinting Drug Testing Solution to government and corporate clients across Australia. This solution includes on-site screening and a back-to-lab confirmatory testing service.

As part of this collaboration, Spirit Group will donate 10% of its proceeds from Intelligent Fingerprinting Drug Screening System sales to the National Centre of Indigenous Excellence (NCIE), supporting youth drug prevention and mentoring programs. This partnership aims to expand INBS' presence in Australia while creating meaningful impact and positive change beyond workplace safety.

Intelligent Bio Solutions Inc. (Nasdaq: INBS) has announced that GPS Marine, a leading provider of marine construction and logistics services, has adopted its Intelligent Fingerprinting Drug Screening System. This move aims to enhance workplace safety in maritime services.

GPS Marine, which operates across the UK's inland waterways and coastal regions, will use INBS' technology to conduct efficient, non-disruptive drug tests ensuring employees are fit for work. The system's portability and rapid 10-minute results allow for continuous safety monitoring with minimal operational delays.

Michele Steadman, Compliance and HR Manager at GPS Marine, emphasized that workforce safety is their highest priority, especially in safety-critical environments. John Spencer, Managing Director at GPS Marine, highlighted the system's quick and easy-to-use nature, which doesn't disrupt their workflow.