INBS stock surges 160% as Intelligent Bio Solutions strikes manufacturing deal targeting 40% cost cuts
Intelligent Bio Solutions shares jumped 160% to $10.66 after announcing a manufacturing deal with Syrma Johari MedTech to scale production of its fingerprint drug-screening device. The company expects over 40% annual production cost savings and a 20-point gross margin boost. Trading volume hit 48.13 million shares, far above average. The stock traded between $5.62 and $11.52 after closing at $4.10 Tuesday.