|Exchange:||NASDAQ national market|
|Industry:||Diagnostics & Research|
|Psychemedics Corporation is a Delaware corporation organized on September 24, 1986. The Company provides testing services for the detection of abused substances through the analysis of hair samples. The Company is a provider of hair testing for drugs of abuse, utilizing a patented hair analysis method involving radioimmunoassay technology and confirmation by mass spectrometry to analyze human hair to detect abused substances. The Company provides commercial testing and confirmation by mass spectrometry using industry-accepted practices for cocaine, marijuana, PCP, methamphetamine (including Ecstasy, which is difficult to detect in urine due to sporadic use patterns and rapid clearance from the body) and opiates (including heroin, hydrocodone, hydromorphone and oxycodone). The Company’s customers include Fortune 500 companies, as well as small to mid-size corporations, schools and governmental entities located mainly in the United States. The Company currently serves hundreds of schools throughout the United States and in several foreign countries. The Company offers its school clients the same five-drug screen with mass spectrometry confirmation that is used with the Company’s workplace testing service. The Company also offers a personal drug testing service, known as ‘PDT-90’®, for parents concerned about drug use by their children. It allows parents to collect a small sample from their child in the privacy of the home, send it to the Company’s laboratory and have it tested for drugs of abuse by the Company. The PDT-90 testing service uses the same patented method that is used with the Company’s workplace testing service. The Company competes directly with numerous commercial laboratories that test for drugs mainly through urinalysis testing. Most of the laboratories are Laboratory Corporation of America and Quest Diagnostics. The Company is licensed as a clinical laboratory by the State of California as well as certain other states.|
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