On Wednesday, there were a number of stocks that had been in focus among investors for one reason or another and ended up with strong gains. One such stock was that of Intelligent Bio Solutions Inc. (NASDAQ:INBS), which ended up with gains of about 11% amidst significant interest.
The excitement about the stock could well be traced to the fact that there is general excitement in the worldwide mining industry with regards to the company’s innovative drug screening platform technology. The company showcased the technology recently at the International Mining and Resources Conference (IMARC) that was held in Sydney, Australia. Intelligent Bio Solutions’ technology that offers sweat-based drug screening solutions seemed to have generated significant interest from those who attended the conference.
IMARC is currently regarded as one of the more important events in the worldwide mining industry and boasts a wide range of participants. Some of the more influential mining companies, like Anglo American, BHP, and Agnico Eagle Mines, were in attendance. Additionally, representatives of the governments of different countries attend IMARC as well. The fact that the conference is an important one in the mining industry could be gauged by 40% of C-Suite executives making up the entirety of all attendees.
In this context, it ought to be noted that the innovative drug screening platform technology from Intelligent Bio Solutions took care of a critical demand in the industry. The solution could be particularly critical in the areas of safety consulting, exploration, production, medical services, and labor hiring.
The solution is non-invasive in nature and produces results in a matter of 16 hours at most. In fact, those were the two major factors that drew the interest of executives from the worldwide mining industry who gathered in Sydney. It could well prove to be a long-term game changer for the company.