Profile: Psychemedics Corp (PMD.OQ)
20 Sep 2019
Psychemedics Corporation (Psychemedics), incorporated on September 24, 1986, provides hair testing for drugs of abuse, utilizing a hair analysis method involving digestion of hair, enzyme immunoassay (EIA) technology and confirmation by mass spectrometry to analyze human hair to detect abused substances. The Company operates in drug testing services segment. The Company is in the business of performing drug testing and reporting the results thereof. The Company's drug testing services include training for collection of samples and storage of positive samples for its customers for an agreed-upon fee per unit tested of samples. The Company's primary application of its technology is as a testing service that analyzes hair samples for the presence of certain drugs of abuse.
The Company's tests provide information that indicates the approximate amount of drug ingested, as well as historical data, which shows a pattern of individual drug use over a longer period of time. The information provided by the test is used by employers for both applicant and employee testing, as well as treatment professionals, law enforcement agencies, school administrators and parents concerned about their children's drug use. Psychemedics provides screening and confirmation by mass spectrometry using various practices for cocaine, marijuana, phencyclidine (PCP), amphetamines (including ecstasy, eve and Adderall) and opiates (including heroin, hydrocodone, hydromorphone, oxycodone, oxymorphone and codeine). The Company's standard test offering uses approximately 3.9 centimeter length head hair sample cut close to the scalp, which measures use for approximately three months prior to collection of the sample. The Company also offers a test for alcohol using hair. The Company's customers include small to mid-size corporations, schools and governmental entities located in the United States and internationally.
The Company also offers a hair test for alcohol, which also looks back on use over a 90-day period, as its hair drug tests do. Its test for alcohol using hair measures average alcohol consumption over a period of approximately three months, indicates the level of alcohol use during the time period and provides a behavioral indication of excessive use. Its test measures the amount of ethyl glucuronide (EtG) in the hair, a trace metabolite of ethanol and a direct alcohol biomarker. Its testing services are performed at the Company's Culver City, California campus.
The Company competes with Quest Diagnostics.
125 Nagog Park Ste 200
ACTON MA 01720-3451