INBS Stock May Rise on SMARTOX Partnership Expanding Forensic Reach

Core Insights - Intelligent Bio Solutions (INBS) has expanded its presence in the U.S. forensic market through a partnership with SMARTOX, enhancing its drug detection capabilities using fingerprint sweat technology [1][2][8] - The collaboration is expected to improve operational efficiency and hygiene in drug testing, while also positioning INBS for broader market expansion, including workplace drug testing [2][4][9] - INBS's stock has seen a year-to-date increase of 36.4%, significantly outperforming the industry average of 2.6% [3] Company Developments - The partnership with SMARTOX allows INBS to leverage a strong distribution network, facilitating the deployment of over 50 drug screening devices across various U.S. institutions, resulting in over 7,000 tests conducted [8] - INBS is pursuing FDA 510(k) clearance for its opiate test system, which will enable entry into high-value markets such as workplace safety and clinical diagnostics [9] - The company currently has a market capitalization of $13.2 million and anticipates an 80.4% growth in earnings for 2025 [5] Industry Outlook - The global drug screening market is projected to grow from $9.1 billion in 2024 to $19.5 billion by 2029, with a compound annual growth rate (CAGR) of 16.6%, driven by increased drug consumption and stricter testing regulations [10]