Welcome to our dedicated page for Psychemedics news (Ticker: PMD), a resource for investors and traders seeking the latest updates and insights on Psychemedics stock.
Psychemedics Corporation (PMD) is a global provider of hair testing for drugs of abuse, and its news flow reflects developments in drug detection, analytics, and corporate strategy. On this page, readers can follow announcements about new testing services, analytical tools, and multi-year insights derived from the company’s large database of hair test results.
Recent Psychemedics news has highlighted the launch of specialized offerings such as ketamine hair testing, which is designed for use in workplace safety programs, educational institutions, rehabilitation centers, and law enforcement agencies. The company has also introduced Enhanced Quartile Reporting, an analytics feature that places positive results into population-based quartiles to give employers deeper context about the severity of drug use and behavioral risk patterns.
Another recurring theme in Psychemedics’ news is the publication of Insights Reports and Workforce Insights Reports. These reports analyze hundreds of thousands of hair samples over multiple years to identify trends in substances such as marijuana, cocaine, methamphetamine, fentanyl, synthetic opioids, nicotine, and amphetamines. Sector-specific findings for industries like transportation, manufacturing, healthcare, and education are frequently discussed.
Corporate updates also appear in the news stream, including the relocation of the company’s headquarters to Dallas, Texas, and plans to undertake a reverse and forward stock split in connection with a proposed delisting and deregistration of its common stock. Investors, employers, educators, and policymakers can use this news page to follow how Psychemedics’ services, data, and corporate structure evolve over time and to monitor developments that may affect workplace and community drug testing practices.
Psychemedics Corporation (NASDAQ:PMD) reported a 23% revenue decline in Q1 2020, totaling $7.5 million compared to $9.8 million in Q1 2019. A net loss of $0.2 million or ($0.03) per diluted share was recorded, contrasting with a net income of $0.6 million or $0.11 per diluted share last year. The 34% drop in sales volume, influenced by COVID-19, was partially offset by an 11% revenue per sample increase. The company secured a $2.2 million loan from the Paycheck Protection Program to maintain operations. Despite challenges, they introduced an FDA-cleared nicotine test in April.
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