INBS stock whipsaws after Intelligent Bio Solutions lines up $10 million funding
NEW YORK, January 1, 2026, 03:10 ET — Market closed Intelligent Bio Solutions Inc said late Wednesday it will raise about $10 million in a private placement, sending its shares lower in after-hours trading after a sharp rally earlier in the session. The financing lands as the micro-cap medtech company pitches a faster path to scale for its fingerprint-based drug screening reader, with management pointing to lower production costs and higher profitability ahead of a planned U.S. market entry. Private placements are a common funding route for small companies, but they can dilute existing shareholders — meaning each share represents