Psychemedics Corporation
NASDAQ Capital MarketCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Brian Hullinger
- Full Time Employees
- 116
- Sector
- Healthcare
- Industry
- Medical - Diagnostics & Research
- Address
- 289 Great Road Acton MA United States of America 01720
- IPO Date
- Jan 22, 1987
- CIK
- 0000806517
- Website
- psychemedics.com
- Similar Companies
- Business
- Psychemedics Corporation provides specialized laboratory testing services for the detection of drugs of abuse and other substances through the analysis of hair samples. The company offers hair drug testing panels that screen and confirm via immunoassay and mass spectrometry (GC/MS/MS or LC/MS/MS) for cocaine, marijuana, phencyclidine (PCP), amphetamines including ecstasy (MDMA), Eve (MDEA), and Adderall, opioids such as heroin metabolite, morphine, hydrocodone, hydromorphone, oxycodone, oxymorphone, and codeine, synthetic cannabinoids including K2, Spice, and Blaze, benzodiazepines such as Xanax, Valium, and Ativan, nicotine, fentanyl and fentanyl analogs, alcohol (EtG), and ketamine; services include pre-employment, random, and post-accident screening with up to 90-day detection windows, customized reporting solutions featuring quartile analysis and annual benchmarking reports, personalized results portals, and integrations with third-party administrators and medical review officers. Psychemedics serves employers across industries including petrochemical, transportation, manufacturing, retail, hospitality, gaming, and education; law enforcement agencies; rehabilitation programs; and public entities such as Federal Reserve banks and schools worldwide. Founded in 1986 and headquartered in Acton, Massachusetts, with laboratory operations in Culver City, California, the company pioneered commercial hair drug testing technology, holds nine U.S. patents including FDA-cleared methods for immunoassay screening, and maintains CAP certification. Psychemedics operates internationally, with notable presence in Brazil through an independent distributor partnership exceeding 15 years, and delivers services to Fortune 500 firms, transportation companies, and global organizations. The company's proprietary extraction technology detects virtually 100% of drug deposits in hair, providing court-admissible results resistant to sample adulteration. In recent developments, Psychemedics launches a new ketamine hair testing service in August 2024, enhancing detection of emerging substances amid rising abuse trends. The company executes a 1-for-5000 reverse stock split followed immediately by a 5000-for-1 forward stock split effective December 3, 2024, to facilitate delisting from the Nasdaq Capital Market and deregistration under Section 15(g) of the Securities Exchange Act of 1934, aiming to reduce annual compliance costs exceeding $845,000 and refocus on core operations and growth initiatives. Shareholders approve these measures, director re-elections, and executive compensation at the November 25, 2024 annual meeting; concurrent transactions involve 3K Limited Partnership acquiring and partially selling back over 1.4 million shares to optimize capital structure, while Powell Anderson Capital Partners affiliates acquire 86,991 shares between December 10-12, 2024, increasing their holding to 824,556 shares.
Psychemedics Releases 2026 Workforce Insights Report
Psychemedics Releases 2025 Workforce Insights Report
Psychemedics Named “Most Innovative Drug Testing Company of the Year”
Psychemedics Corporation Announces Reverse and Forward Stock Split
Psychemedics Corporation Reports Third Quarter 2024 Financial Results
Psychemedics Releases First-Ever Education Insights Report: Uncovering Drug Trends in Educational Institutions Through Hair Testing
Psychemedics Corporation Reports Second Quarter 2024 Financial Results
Psychemedics Corporation's Board of Directors Approves Plan to Terminate Registration of Its Common Stock
Psychemedics Unveils Inaugural Insights Report: Revealing Drug Trends Through Hair Testing
Psychemedics Corporation Reports First Quarter 2024 Financial Results
Psychemedics Corporation Reports 2023 Financial Results
Psychemedics Recognized as a Top 10 Employee Health Testing Services Provider
Psychemedics Corporation Announces Relocation of Headquarters to Dallas, Texas
Psychemedics Corporation Appoints Daniella Mehalik as VP - Finance
Psychemedics Corporation Reports Third Quarter 2023 Financial Results
Unveiling the Future of Drug Testing: Psychemedics Introduces Advanced 5-Panel Drug Screen
Psychemedics Corporation Appoints Shannon Shoemaker as Chief Revenue Officer
Psychemedics Corporation Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Psychemedics Corporation Reports Second Quarter 2023 Financial Results
Psychemedics Corporation Announces CEO Succession Plan