What's Going On With Opiate Screening Tests-Focused Intelligent Bio Solutions Stock On Monday?
Portfolio Pulse from Vandana Singh
Intelligent Bio Solutions Inc. (NASDAQ:INBS) saw a significant stock price increase on Monday, driven by a 64% year-over-year revenue growth in Q4 2024 and a 148% increase in fiscal year sales. The company is progressing with its FDA 510(k) submission and has expanded its customer base, contributing to the positive market response.
September 09, 2024 | 2:24 pm
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POSITIVE IMPACT
Intelligent Bio Solutions Inc. reported a 64% increase in Q4 2024 revenue and a 148% rise in fiscal year sales, despite missing consensus estimates. The company is advancing its FDA 510(k) submission and expanding its customer base, leading to a 77.80% stock price increase.
The significant increase in stock price is attributed to the company's strong revenue growth and progress in regulatory submissions, which are critical for future product offerings. The market responded positively to these developments, indicating investor confidence in the company's growth trajectory.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100