Welcome to our dedicated page for Psychemedics Corporation news (Ticker: $PMD), a resource for investors and traders seeking the latest updates and insights on Psychemedics Corporation stock.
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Psychemedics (PMD) reported financial results for the year ended December 31, 2023, amidst challenges from economic forces. Despite a decrease in revenue and a net loss, the company remains optimistic about its potential and plans to explore new markets.
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End-of-Day
-2.33%
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Psychemedics (NASDAQ: PMD) has been recognized as one of the Top 10 Employee Health Testing Services Providers for 2024 by ManageHR. The company's commitment to excellence and innovation in drug testing using hair analysis has earned it this prestigious accolade. Psychemedics' patented technology offers accurate and non-invasive drug testing solutions, ensuring safe and drug-free workplaces for thousands of companies worldwide.
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2.04%
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Psychemedics Corporation (PMD) proudly announces the relocation of its corporate headquarters from Acton, Massachusetts to Dallas, Texas. The move aims to expand operations, foster innovation, and better serve its diverse clientele globally, while maintaining the highest standards in hair drug testing. CEO Brian Hullinger expressed confidence in the move, emphasizing its significance in the company's growth strategy.
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14.53%
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Psychemedics Corporation (PMD) proudly announces the appointment of Daniella Mehalik as its new Vice President - Finance. Ms. Mehalik brings over a decade of extensive experience in accounting and industry-specific insights crucial to Psychemedics’ operations, with academic credentials from Carlow University. Reporting directly to CEO and President Brian Hullinger, she will play a pivotal role in steering the financial trajectory of the organization.
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4.07%
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Psychemedics Corporation (NASDAQ: PMD) announced Q3 2023 financial results, reporting a 12% decrease in revenue to $5.7 million and a net loss of $(2.1 million). The company is implementing restructuring changes to align costs with revenue trends, expecting financial benefits in Q4 2023 and fiscal year 2024. Gross margin percentage improved to 37%, operating expenses increased 18%, and a non-cash tax charge of $0.7 million was recorded. The company also highlighted significant go-to-market improvements led by the new Chief Revenue Officer, Shannon Shoemaker.
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End-of-Day
-3.29%
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Psychemedics announces the launch of a revolutionary Advanced 5-Panel Drug Screen that replaces marijuana with fentanyl, addressing the evolving drug landscape and workplace challenges. The new panel is more effective in detecting opioids, cocaine, and amphetamines, and offers a cost-effective choice for organizations to adapt their testing protocols.
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3.81%
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Psychemedics Corporation appoints Shannon Shoemaker as Chief Revenue Officer, marking a significant milestone for the company's expansion in substance abuse testing. Shoemaker brings a wealth of experience and a track record of leadership in revenue growth and optimization. Shoemaker's appointment is expected to contribute to strategic growth initiatives and innovation in the industry.
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0.55%
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Psychemedics Corporation grants inducement awards to new CEO Brian Hullinger
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1.51%
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Psychemedics Corporation (NASDAQ: PMD) announced financial results for Q2 2023. Revenue decreased by 15% to $5.5 million compared to Q2 2022. Net loss for Q2 2023 was $(726,000) or $(0.13) per diluted share. Gross margin improved to 37% from 35% in Q2 last year. Operating expenses declined by 5%. Psychemedics settled a lawsuit with a consultant, resulting in a non-recurring expense. Ray Kubacki will retire as President and CEO, succeeded by Brian Hullinger.
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Psychemedics Corporation announces that Brian Hullinger will succeed Ray Kubacki as CEO effective August 17, 2023. Hullinger brings 30 years of leadership experience and a proven track record of driving growth.
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Rhea-AI Sentiment
End-of-Day
18.33%
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Psychemedics Corporation
Nasdaq:PMD
PMD Rankings
PMD Stock Data
14.75M
4.39M
22.7%
22.34%
0.27%
Dental Laboratories
Manufacturing
United States of America
ACTON
About PMD
psychemedics (nasdaq: pmd) is the world's leading drug testing company using hair for the detection of drugs of abuse. psychemedics has been successfully operating for 30 years and thousands of corporations worldwide currently rely on psychemedics’ patented hair analysis technology for their pre-employment and employee drug screening. psychemedics' clients include over 10% of the fortune 500, some of the largest police departments in america, federal reserve banks, and schools. for more information, visit the psychemedics website at www.psychemedics.com.