Streetbeat News

INBS

Intelligent Bio Solutions Inc.

Industry

Medical - Diagnostics & Research

Intelligent Bio Solutions Inc., a life sciences company, developing non-invasive, real-time monitoring and diagnostic tests for patients and their primary health practitioners. It offers Saliva Glucose Biosensor, an organic thin-film transistor for diabetes management that measures glucose in saliva. The company also focuses on developing SARS-CoV-2 Biosensor, a biosensor test can be used as a complement to the (RNA) virus detection test; and a biosensor platform comprising of biochemistry, immunology, tumor markers, hormones, and nucleic acid diagnostic modalities. The company was formerly known as GBS Inc. and changed its name to Intelligent Bio Solutions Inc. in October 2022. The company was incorporated in 2016 and is headquartered in New York, New York. Intelligent Bio Solutions Inc. is a subsidiary of Life Science Biosensor Diagnostics Pty Ltd.

Open

1.82

Mkt cap

6.9M

Volume

180K

High

1.82

P/E Ratio

-0.26

52-wk high

11.70

Low

1.56

Div yield

N/A

52-wk low

1.00

Intelligent Bio Solutions Inc (NASDAQ:INBS) shares dropped after announcing the exercise of Series E Warrants for $1.77 million in gross proceeds. The warrants, issued in a public offering in October 2023, have an exercise price of $2.9232 per share. The company plans to use the proceeds for working capital and general corporate purposes and will grant new warrants at $4.50 per share with a 5.5-year term. INBS shares were down 40% at $3.57 at the time of publication.

Portfolio Pulse from Adam Eckert

February 05, 2024 | 3:45 pm

U.S. stocks traded lower with the Dow Jones falling around 150 points. McDonald's Corporation reported weaker-than-expected sales for its fourth quarter, missing consensus estimates. Yield10 Bioscience, 4D Molecular Therapeutics, and Chenghe Acquisition saw significant stock price increases, while NanoString Technologies, DMK Pharmaceuticals, and Intelligent Bio Solutions experienced notable declines. Oil and gold prices also fell.

Portfolio Pulse from Avi Kapoor

February 05, 2024 | 3:01 pm

Intelligent Bio Solutions' stock is trading lower following the announcement of the exercise of previously issued warrants, resulting in $1.77 million in gross proceeds.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 2:58 pm

Intelligent Bio Solutions Inc. (NASDAQ:INBS) announced the exercise of Series E Warrants issued on October 4, 2023, resulting in $1.77M in gross proceeds. The exercise involves 606,064 shares at $2.9232 each. Additionally, warrant holders will receive new Replacement Warrants for the same number of shares at $4.50 each, valid for five-and-a-half years. The funds are intended for working capital and general corporate purposes. Ladenburg Thalmann & Co. Inc. served as the placement agent.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 2:09 pm

In Monday's pre-market session, several healthcare stocks showed significant movement. Gainers included 4D Molecular Therapeutics (FDMT) with a 60.1% increase, and Yield10 Bioscience (YTEN) rising by 48.47%. Losers were led by NanoString Technologies (NSTG), dropping 58.9%, and DMK Pharmaceuticals (DMK) with a 52.33% decrease. These movements reflect notable volatility in the healthcare sector.

Portfolio Pulse from Benzinga Insights

February 05, 2024 | 1:06 pm

U.S. stocks saw gains with the S&P 500 up 1.20%, Nasdaq up 1.81%, and Dow up 0.49%. Amazon's Q4 results exceeded expectations, projecting Q1 revenue between $138 billion and $143.5 billion. Intelligent Bio Solutions, Tyra Biosciences, and Meta Platforms reported significant stock increases due to positive financial news. Conversely, Cingulate, Atlassian Corporation, and GRI Bio saw their stocks decline following public offering announcements and financial results.

Portfolio Pulse from Avi Kapoor

February 02, 2024 | 7:32 pm

Skechers U.S.A., Inc. (SKX) shares fell by approximately 7% after reporting mixed Q4 financial results, missing revenue estimates but beating EPS expectations. Other stocks showed significant movement, with notable gainers including Intelligent Bio Solutions Inc. (INBS), Meta Platforms, Inc. (META), and Deckers Outdoor Corporation (DECK), among others. Losers included Cingulate Inc. (CING), MedAvail Holdings, Inc. (MDVL), and Scienjoy Holding Corporation (SJ), with various reasons for their declines.

Portfolio Pulse from Avi Kapoor

February 02, 2024 | 6:18 pm

Intelligent Bio Solutions Inc. (NASDAQ:INBS) shares surged by 104.15% to $4.90 due to an expected significant revenue increase. The company anticipates a 337% revenue growth for the six months ending Dec. 31, 2023, and a 114% increase for the second fiscal quarter. This growth is attributed to rising product sales, market expansion, and increased cartridge and reader sales. Additionally, a 1-for-12 reverse stock split was implemented to boost the per-share trading price.

Portfolio Pulse from Nabaparna Bhattacharya

February 02, 2024 | 5:36 pm

In Friday's intraday session, several healthcare stocks experienced significant movements. Intelligent Bio Solutions (INBS) saw a notable increase of 108.5%, while Atara Biotherapeutics (ATRA) rose by 51.8%. On the downside, Cingulate (CING) dropped by 52.1%, and Biofrontera (BFRI) fell by 35.59%. These movements reflect the volatile nature of healthcare stocks in the market.

Portfolio Pulse from Benzinga Insights

February 02, 2024 | 5:31 pm

Nasdaq rose over 200 points with Apple posting upbeat earnings, leading to a positive trend in U.S. stocks. Apple reported Q1 earnings surpassing expectations with record Services and iPhone revenue, despite a decline in China. Other notable movements included Intelligent Bio Solutions and Tyra Biosciences experiencing significant gains, while Cingulate, Gen Digital, and GRI Bio saw sharp declines. Meta Platforms also reported strong Q4 results and announced a new dividend.

Portfolio Pulse from Avi Kapoor

February 02, 2024 | 5:08 pm

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