Sign In  |  Register  |  About Sunnyvale  |  Contact Us

Sunnyvale, CA
September 01, 2020 10:10am
7-Day Forecast | Traffic
  • Search Hotels in Sunnyvale

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Intelligent Bio Solutions (NASDAQ:INBS): AI Biotech Company Utilizing Fingerprint Technology In Focus

The medical technology industry has grown at a significant pace throughout the past few years, and it is no surprise that investors are now increasingly looking for options in this sector. One of the companies that investors could consider tracking at this point is Intelligent Bio Solutions Inc (NASDAQ: INBS).

Intelligent Bio Solutions is a medical devices company that is involved in providing fast, intelligent, and non-invasive testing solutions. One of the flagship offering is the Intelligent Fingerprinting Drug Screening System which is bringing about a revolution in portable testing through fingerprinting of sweat analysis. It also has many more applications in related fields.

The company announced on May 16 that its Intelligent Fingerprinting Drug Screening System would be able to detect fentanyl and fentanyl-laced street drugs from the sweat collected by its system. Considering the fentanyl menace in the United States it was a major new development.

As per data from the CDC, the number of fentanyl overdose deaths in the United States stood at more than 100,000 in the 12 months ended in November 2022. As much as 81.9% of those deaths involved the presence of at least an opioid and fentanyl was found to be the most popular one. Intelligent Bio Solutions is working on combatting the crisis by offerings its flagship product to detect the presence of fentanyl.

Earlier this month, the company reposted Q3 results for the period that ended on March 31, 2023. The total revenues and government support income brought in by Intelligent Bio Solutions stood at $574,738, a 199% rise year-over-year. The rise in revenues was primarily due to the acquisition of Intelligent Fingerprinting Ltd.

 

 

Disclaimers: The Private Securities Litigation Reform Act of 1995 provides investors with a safe harbor with regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, assumptions, objectives, goals, and assumptions about future events or performance are not statements of historical fact and may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements, indicating certain actions & quotes; may, could or might occur Understand there is no guarantee past performance is indicative of future results. Investing in micro-cap or growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor's investment may be lost or due to the speculative nature of the companies profiled. TheStreetReports (TSR) is responsible for the production and distribution of this content.“TSR” is not operated by a licensed broker, a dealer, or a registered investment advisor. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. “TSR” authors, contributors, or its agents, may be compensated for preparing research, video graphics, podcasts and editorial content. “TSR” has not been compensated to produce content related to “Any Companies” appearing herein. As part of that content, readers, subscribers, and everyone viewing this content are expected to read the full disclaimer in our website.

Media Contact
Company Name: The Street Reports
Contact Person: Editor
Email: Send Email
Country: United States
Website: http://www.thestreetreports.com


Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Sunnyvale.com & California Media Partners, LLC. All rights reserved.