The stock pulled back on Friday after the company announced plans to raise fresh capital.
$10 Million Private Placement Pressures Stock
Intelligent Bio said it will raise $10 million through a private placement, which weighed on shares following the announcement.
The deal includes 2.298 million shares, Series K-1 warrants to purchase up to 2.298 million shares, and Series K-2 warrants to purchase up to 2.298 million shares at a combined price of $4.35 per share.
Both the Series K-1 and Series K-2 warrants carry an exercise price of $4.10 per share.
Strategic Manufacturing Partnership
Earlier on Wednesday, the stock surged after the company announced a strategic manufacturing partnership with Syrma Johari MedTech Ltd.
The collaboration is aimed at supporting and scaling production of the Intelligent Fingerprinting Drug Screening Reader.
Management expects the partnership to drive long-term margin improvement and deliver meaningful operational and financial benefits.
Revenue Growth and Margin Expansion
For the fiscal 2026 first quarter, Intelligent Bio reported revenue of $1.11 million, up 32% year over year, driven by accelerating cartridge sales and customer acquisition.
Gross margin expanded by 690 basis points to 46.6%, reflecting improved operating efficiency and a higher contribution from higher-margin cartridge sales.
Corporate Actions and Technology Updates
In December, the company completed a 1-for-10 reverse stock split.
INBS Price Action: Intelligent Bio Solutions shares were down 20.25% at $7.600 at the time of publication on Friday, according to Benzinga Pro data.
Read Next:
Image via Shutterstock
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
