Intelligent Bio Solutions (INBS, Financial) has successfully gathered new data that enhances the reliability and security of its Intelligent Fingerprinting Drug Screening System (IFDDS). This advancement significantly bolsters the company's submission for FDA 510(k) clearance. The Vice President of Product Development, Peter Passaris, highlighted that the ongoing communication with the FDA during the 510(k) submission process has been constructive. The collaboration with FDA consultants and third-party experts has enabled the company to comprehensively address all inquiries related to the submission.
Intelligent Bio Solutions plans to submit their findings, including this new data, to the FDA in August. This step is part of their efforts to ensure the IFDDS meets the regulatory requirements and gains approval, reflecting the company's commitment to innovation and quality in drug screening technologies.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 1 analysts, the average target price for Intelligent Bio Solutions Inc (INBS, Financial) is $12.00 with a high estimate of $12.00 and a low estimate of $12.00. The average target implies an upside of 433.33% from the current price of $2.25. More detailed estimate data can be found on the Intelligent Bio Solutions Inc (INBS) Forecast page.
Based on the consensus recommendation from 1 brokerage firms, Intelligent Bio Solutions Inc's (INBS, Financial) average brokerage recommendation is currently 1.0, indicating "Buy" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
