On June 25, Intelligent Bio Solutions Inc. (NASDAQ: INBS) trending upwards in after-hours trading. The medical technology company, known for its intelligent, fast, and non-invasive testing solutions, made a significant announcement on June 20. Intelligent Bio Solutions revealed it had successfully signed two major customers in the UK's warehouse and logistics sector over the past three months. These two companies boast a combined workforce of over 15,000 employees across 70 locations.
Both companies will implement Intelligent Bio Solutions' Intelligent Fingerprinting Drug Screening System at most of their UK sites. One of the clients, an award-winning specialist in innovative supply chain solutions, switched to the Intelligent Bio Solutions system due to the inefficiencies of their previous saliva testing method. As covered by Seeking Alpha see entire news article.
On June 19, Intelligent Bio Solutions Inc. (NASDAQ: INBS) announced the completion of patient screening and the start of dosing for its pharmacokinetic (PK) study on fingerprinting drug screening technology. This study will support a 510(K) submission to the U.S. FDA in Q4 2024. The company expects to complete recruitment by the end of June 2024 and review PK study results by the end of July 2024. This announcement follows the company's recent shift to a global operations framework from its UK-based structure.
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