Intelligent Bio Solutions Inc. Reports Results from PK Study and Raises Funds through Stock Sale

Intelligent Bio Solutions Inc. (NYSE: GBS) recently disclosed updates surrounding its Pharmacokinetic (PK) study required for an FDA 510(k) submission in an 8-K filing on November 20, 2024. The company has released a video detailing the initial results of this study. Interested parties can access the video on the company’s official website, www.ibs.inc, specifically under the news and media section. Direct links to the video are also provided for convenient viewing.

Furthermore, as a consequence of the sale of common stock shares under the At The Market Offering Agreement dated September 18, 2024, between Intelligent Bio Solutions Inc. and Ladenburg Thalmann & Co. Inc., the company has successfully raised approximately $250,802 (after deducting commissions of about $7,756 paid to Ladenburg) as of November 19, 2024.

Within this total, Intelligent Bio Solutions Inc. raised roughly $34,511 (net of commissions around $1,067 paid to Ladenburg) through the sale and issuance of 17,167 shares of common stock between September 18, 2024, and September 30, 2024. Additionally, the company secured about $216,291 (net of commissions of roughly $6,689 paid to Ladenburg) by selling and issuing 137,115 shares of company common stock from October 1, 2024, through November 19, 2024.

Embracing its role as an emerging growth company, Intelligent Bio Solutions Inc. is making strategic financial moves while fulfilling regulatory obligations. Spiro Sakiris, the Chief Financial Officer, signed off on behalf of the company, underscoring its commitment to transparency and regulatory compliance.

The prospects for Intelligent Bio Solutions Inc. appear promising as the company continues to navigate the regulatory landscape and seeks to advance its pharmaceutical offerings.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read GBS’s 8K filing here.

About GBS

GBS Inc operates as a biosensor diagnostic technology company in the Asia-Pacific and North America. 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.