Several firms gained attention today due to recent developments, and one notable company is Intelligent Bio Solutions Inc. (NASDAQ: INBS). This medical technology firm specializes in the delivery of intelligent, rapid, and non-invasive testing solutions. Today, headlines announced that Titan Cranes and Rigging Pty Ltd. has adopted its innovative Intelligent Fingerprinting Drug Screening System.

This news marks a noteworthy milestone for the company, considering Titan Cranes and Rigging’s prominent position in Australia since 2001. Over the years, Titan Cranes and Rigging has established itself as a leading expert in the material handling sector, gaining recognition for supplying cutting-edge cranes, lifting equipment and skilled labor for major construction projects across Australia. This development holds significant importance, with the construction industry playing a substantial role in the country’s economy, employing 9.6% of the workforce, according to Australian government data.

A press release issued by the company on November 30, 2023, announced that Titan Cranes and Rigging had implemented Intelligent Bio Solutions’ innovative sweat-based technology across its business operations, adopting the system as a new employee screening solution. Currently employing over 350 individuals, the company’s decision reflects a strategic move to enhance screening processes. Intelligent Bio Solutions’ President and CEO, Harry Simeonidis, commented on the development, noting the global recognition of the company’s drug screening product as a dependable option. Expressing excitement about Titan’s choice, Mr. Simeonidis also conveyed the company’s intention to expand further into the construction industry.

In this context, it is important to highlight that the company’s Intelligent Fingerprinting Drug Screening System is a robust solution known for delivering rapid and precise results. Significantly, it stands out for its non-invasive approach, utilizing fingerprint sweat to detect specific drugs of abuse. Moreover, the system is recognized for providing results within minutes, making it particularly advantageous in various settings. The system comprises a compact, tamper-proof cartridge that collects sweat samples, which are then analyzed by a reader.

From a technical perspective, Intelligent Bio Solutions Inc. (NASDAQ: INBS) exhibits the potential for a notable rebound in November 2023. As a result, the stock concluded November 2023 with a closing price of $0.5775 and an intraday peak of $0.78. On November 30, 2023, Intelligent Bio Solutions Inc. (NASDAQ: INBS) stock closed-up 64.38% at $0.42 on 18,630,787 shares of volume, making it a noteworthy stock to keep a close eye on in the upcoming weeks.