Why Intelligent Bio Solutions (INBS) Shares Skyrocketing 400% Today? - Intelligent Bio Solutions (NASDAQ:INBS)

Intelligent Bio Solutions Inc INBS has completed the review of results from Milestone 7, a phase of its biosensor platform development at the University of Newcastle, Australia, that included testing time-to-result (TTR), sensitivity, and reproducibility.
The results showed a record 4x improvement in TTR, enabling the biosensor to return test results in under one minute.
The company's biosensor platform is the world's first to specifically support multiple non-invasive, real-time, saliva-based diagnostic tests based on Organic Thin Film Transistor (OTFT) technology.
It features a small, printable organic strip designed to put the power of accurate, timely diagnosis in the hands of patients and their primary health practitioners.
"We are thrilled to have reached another key development milestone for our biosensor platform, particularly demonstrating a substantial TTR reduction from 120 to 30 seconds, far below our original target of over 1 minute per test," said Harry Simeonidis, CEO.
"Based on these successful results, the biosensor development team has now proceeded to its next testing phase, which will include testing human saliva."
Intelligent Bio Solutions is a life sciences company developing and delivering non-invasive, real-time testing solutions.
Price Action: INBS shares are up 414.8% at $1.39 on the last check Monday.

Why Intelligent Bio Solutions Shares Skyrocketing Over 400% Today?