Psychemedics Corporation provides testing services for the detection of drugs of abuse through the analysis of hair samples in the United States, Brazil, and internationally. The company offers screening and confirmation by mass spectrometry using industry-accepted practices for cocaine, marijuana, PCP, amphetamines, opiates, synthetic cannabinoids, and benzodiazepines. Its testing results provide quantitative information that can indicate the approximate amount of drug ingested, as well as historical data that can show a pattern of individual drug use over a longer period-of-time. The company provides its services to employers for applicant and employee testing; and treatment professionals, law enforcement agencies, school administrators, and parents concerned about their children's drug use. Psychemedics Corporation was founded in 1986 and is headquartered in Acton, Massachusetts.
IPO Year:
Exchange: NASDAQ
Website: psychemedics.com
DALLAS, June 16, 2025 (GLOBE NEWSWIRE) -- Psychemedics Corporation, a global leader in hair testing for drugs of abuse, today announced the release of its second annual Workforce Insights Report, providing a comprehensive look at the evolving drug landscape and its impact on workplace safety, hiring practices, and employer risk. The 2025 Psychemedics Insights Report draws from the largest proprietary database of hair drug testing results in the industry, analyzing hundreds of thousands of samples collected in 2024 across a wide range of sectors, including transportation, manufacturing, healthcare, government, and more. The report reveals critical workforce trends and emerging threats empl
DALLAS, March 03, 2025 (GLOBE NEWSWIRE) -- Psychemedics Corporation, a global leader in hair drug testing, is proud to announce the launch of its innovative Quartile Reporting feature. This industry-first enhancement empowers organizations with unprecedented insights into drug test results, enabling data-driven decision-making and fostering safer, more productive workplaces. The new Quartile Reporting feature allows clients to see where a candidate's or employee's test results fall within a range of positive reports collected over the past 12 months. By segmenting results into four quartiles – Lower, Median, Upper, and Highest – this advanced reporting provides real-time context and bench
DALLAS, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ:PMD) (the "Company"), the world's leading provider of hair testing for drugs of abuse, today announced that, following the approval of the Company's stockholders at its Annual Meeting of Stockholders held on November 25, 2024, the Company's Board of Directors has approved a 1-for-5,000 reverse stock split of its common stock (the "Reverse Stock Split") followed immediately by a 5,000-for-1 forward stock split of its common stock (the "Forward Stock Split," and together with the Reverse Stock Split, the "Stock Split"), to be effective at 5:01 p.m. and 5:02 p.m., Eastern Time, respectively, on Tuesday, December 3, 202
DALLAS, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ:PMD), a global leader in hair testing, reminds its stockholders to vote ahead of the Company's upcoming annual meeting of stockholders scheduled for November 25, 2024. Each stockholder's vote is important. The Company's Board of Directors recommends that stockholders vote "FOR" each proposal at the annual meeting. Instructions for voting your shares are set forth below. The record date for the annual meeting is October 8, 2024. If you have previously voted your shares and do not wish to change your vote, you do not need to take any action. If you have already voted or given your proxy and wish to change your vote,
DALLAS, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ:PMD), the world's leading provider of hair testing for drugs of abuse, today announced financial results for the third quarter ending September 30, 2024. The Company's revenue for three months ended September 30, 2024, was $5.2 million versus $5.7 million for three months ended September 30, 2023, a decrease of 9%. Net loss was $0.5 million, or $0.09 per share, compared to a net loss of $2.1 million, or $0.36 per share, for the three months ended September 2024 and 2023, respectively. The Company's revenue for nine months ended September 30, 2024, was $15.3 million versus $17.1 million for nine months ended Septem
DALLAS, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ:PMD), a global leader in hair testing for drugs of abuse, is excited to announce the release of its first-ever Education Insights Report. This report provides an in-depth analysis of drug trends within educational institutions, shedding light on the growing challenges schools face in maintaining a drug-free environment for students and staff. Following the success of our inaugural Workforce Insights Report earlier this year, we continue our commitment to providing groundbreaking insights based on data from hair testing. For the Education Insights Report, Psychemedics analyzed thousands of hair samples collecte
DALLAS, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ:PMD), a global leader in hair testing, is proud to announce the launch of its new ketamine hair testing solution. This innovative testing method marks a significant advancement in the detection and prevention for a drug-free workplace and community. Ketamine, a powerful dissociative anesthetic and emerging drug of abuse, poses a growing concern for employers, educators, and law enforcement agencies. With the introduction of this new testing service, Psychemedics aims to equip organizations with the tools needed to identify and address ketamine use effectively. Key Features and Benefits of Ketam
DALLAS, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ:PMD), the world's leading provider of hair testing for drugs of abuse, today announced financial results for the second quarter ending June 30, 2024. The Company's revenue for three months ended June 30, 2024, was $4.7 million versus $5.5 million for three months ended June 30, 2023, a decrease of 15%. Net loss was $0.8 million, or $0.14 per share, compared to a net loss of $0.7 million, or $0.13 per share, for the three months ended June 2024 and 2023, respectively. The Company's revenue for six months ended June 30, 2024, was $10.1 million versus $11.4 million for six months ended June 30, 2023, a decrease of 12
DALLAS, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ:PMD) ("Psychemedics" or the "Company") today announced that a Transaction Committee (the "Transaction Committee") of the Board of Directors of the Company (the "Board") comprised of independent directors has recommended, and the Board has approved, a plan to cease the registration of the Company's common stock under the federal securities laws following the completion of a proposed reverse stock split and to delist its shares of common stock from trading on the Nasdaq Capital Market. It is expected that this plan would be effectuated in the fall of 2024, assuming the approval of Psychemedics' stockholders at the Com
DALLAS, June 21, 2024 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ:PMD), a global leader in hair testing for drugs of abuse, proudly presents its inaugural Insights Report. This groundbreaking report offers a comprehensive analysis of drug trends in the workplace, drawing insights from a vast dataset of hair samples collected and analyzed in 2023. As pioneers in the field of hair testing, Psychemedics collected hundreds of thousands of hair samples from individuals across diverse industries and regions. Leveraging advanced analytical techniques, the Psychemedics team meticulously analyzed these samples to detect a wide range of drugs and metabolites, forming the foundation of the