Medical technology company Intelligent Bio Solutions Inc. (Nasdaq: INBS) is pioneering fast, intelligent, and non-invasive testing solutions. The company's flagship product, the Intelligent Fingerprinting Drug Screening System, offers a rapid alternative to traditional urine testing methods, ensuring employees are "Fit to Work." As stated by Doug Heath, Vice President of Global Sales at INBS, in their news release on July 9, 2024.
Workplace impairment due to drugs and alcohol significantly increases the risk of worker injuries. According to the Health and Safety Executive (HSE), the UK manufacturing sector reported a significant rate of non-fatal workplace injuries, with 1,740 injuries per 100,000 workers in 2022/23. These statistics highlight the urgent need for effective drug screening methods to ensure worker safety.
The Intelligent Fingerprinting Drug Screening System from Intelligent Bio Solutions addresses this necessity by providing accurate and reliable drug testing. The system can screen for common drugs such as methamphetamine, opiates, cocaine, and cannabis through the analysis of sweat from an individual’s fingerprints. This method offers a much more convenient and faster alternative to traditional urine testing methods. Companies using the system have reported not only quick results but also enhanced operational efficiency.
Intelligent Bio Solutions Inc. (Nasdaq: INBS) is rapidly expanding its footprint across the UK, New Zealand, Australia, and various parts of Europe, targeting multiple sectors with its innovative testing solutions. The company has ambitious plans to enter the US market in 2025, signaling a significant growth opportunity.
Although the stock is currently underperforming, a market reversal may be on the horizon. INBS reached a closing high of $6.70 per share and an intraday high of $11.70 in 2024, indicating its potential for substantial upside. Investors should consider the company's accelerating expansion and the anticipated entry into the lucrative US market as key factors for future growth.
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