Intelligent Bio Solutions Inc. (INBS) saw its shares surge by 23% in pre-market trading today, despite no fresh announcement from the company.
The move reflects investor attention on recent milestones, including improving quarterly revenue growth, strengthened financial resources, and the expanding adoption of its fingerprint drug testing platform.
Finance Performance:
For the fiscal first quarter ended September 30, 2025, Intelligent Bio Solutions reported revenue of $1.11 million, compared with $0.8 million in the prior year, representing growth of more than 28% year-over-year.
The company attributed this increase to rising demand for its workplace and law enforcement drug testing solutions, particularly in safety-critical industries such as logistics and transport.
To support its growth trajectory, INBS closed a $10 million private placement in early 2026, priced at-the-market under Nasdaq rules. The financing bolstered the company's cash position and provided capital to accelerate commercialization, expand distribution partnerships, and advance research and development initiatives.
Fingerprint Drug Testing Platform:
The company's flagship product is the Intelligent Fingerprinting Drug Testing System, a non-invasive technology that screens for recent drug use through sweat collected from fingerprints. Results are available within minutes, offering a portable and hygienic alternative to traditional urine or saliva tests.
The platform detects substances including opiates, methamphetamine, cocaine, and cannabis, with a focus on impairment within a 16-24-hour window. Tamper-proof cartridges and administrator-supervised screening enhance integrity, while accredited laboratory partners provide confirmatory testing to ensure compliance with regulatory standards.
The device is commercially available in many countries, including Chile, the United Kingdom, Australia, and Scandinavia, to name a few. However, it is not approved in the U.S. yet.
In its latest regulatory update, Intelligent Bio said it plans to begin additional clinical studies to further validate the system for its upcoming FDA 510(k) submission. These studies are scheduled to conclude in the first half of 2026, with the company anticipating FDA 510(k) clearance in the second half of 2026.
SmartTest Sweat Drug Testing Platform:
The company also offers the SmartTest Patch, a wearable sweat-collection device that provides 7-10 days of continuous drug monitoring for substances such as fentanyl, cocaine, opiates, methamphetamine, and cannabis. INBS signed a global distribution agreement for the SMARTOX SmarTest Patch in July 2025, expanding its drug-monitoring portfolio with a longer-duration, tamper-evident solution.
With improving quarterly revenue, fresh financing, and growing adoption of its fingerprinting testing technology, Intelligent Bio Solutions has been attracting attention in the market, as shown by its stock's recent rally.
INBS has traded between $4.03 and $27.50 over the past year. The stock closed Friday's trading at $17.92, up 25.23%. In premarket trading today, INBS is at $25.09, up 40.02%.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.