PSYCHEMEDICS CORP: directors' dealings · United States · SEC (Form 4)

About PSYCHEMEDICS CORP

Psychemedics Corp. (ticker: PMDI) is a U.S.-based specialist in hair testing for drugs of abuse. For investors, it is important to distinguish between the company’s former Nasdaq listing and its current trading status: Psychemedics was previously quoted on Nasdaq under PMD, but after a late-2024 delisting its common stock began trading on the OTC Market under PMDI. In other words, this is no longer a conventional NYSE/Nasdaq-listed equity, even though it remains a U.S. public issuer. The company is domiciled in the United States and announced the relocation of its corporate headquarters from Acton, Massachusetts, to Dallas, Texas, in January 2024. ([investors.psychemedics.com](https://investors.psychemedics.com/static-files/36ed7fdc-4f98-4da3-9c00-880855eae126?utm_source=openai)) Founded in 1986, Psychemedics has built its brand around a patented hair-testing platform that it describes as the industry pioneer in this niche. Its core business is laboratory-based drug detection using hair samples, a method designed to provide a longer detection window than urine testing. The company positions itself as a science-led provider with a differentiated methodology rather than a broad-based diagnostics platform. That specialization is central to its investment case: Psychemedics competes on proprietary technology, laboratory accuracy, and a long operating history in forensic and workplace drug screening. ([psychemedics.com](https://www.psychemedics.com/about/?utm_source=openai)) Commercially, Psychemedics serves employers, government entities, law enforcement agencies, schools, Federal Reserve banks, and other institutions that require pre-employment, random, or compliance-driven testing. The company says its patented process is used by thousands of U.S. and international customers, including Fortune 500 clients. That gives Psychemedics a defensible niche in workplace safety and compliance testing, where customers often value traceability, reliability, and court-admissible results. ([psychemedics.com](https://www.psychemedics.com/about/?utm_source=openai)) Its product and service portfolio remains centered on hair-drug testing, but management has tried to broaden the platform’s relevance through new panels and reporting tools. In 2024, the company launched a ketamine hair test service, reflecting attention to emerging substances of concern. In 2025, it introduced Quartile Reporting and published a second annual Workforce Insights Report, which draws on the company’s proprietary testing database to highlight drug-use trends across sectors such as transportation, manufacturing, healthcare, and government. These initiatives suggest a strategy focused on deepening customer engagement and monetizing analytics around workplace risk. ([investors.psychemedics.com](https://investors.psychemedics.com/sec-filings-and-press-releases/news-releases/news-details/2024/Psychemedics-Corporation-Launches-New-Ketamine-Hair-Testing-Service/default.aspx?utm_source=openai)) Recent corporate news also points to a period of restructuring and portfolio refinement. Psychemedics reported 2023 and third-quarter 2024 results, with revenues declining year over year while net losses narrowed in the latest quarter reported. The company also announced a reverse/forward stock split in 2024, alongside the termination of its Nasdaq listing. For investors in France, Belgium, and Switzerland, the key takeaway is that Psychemedics remains a niche U.S. healthcare/testing business with a differentiated scientific proposition, but it now carries the additional risks associated with OTC trading, lower liquidity, and a smaller public-market footprint. ([investors.psychemedics.com](https://investors.psychemedics.com/sec-filings-and-press-releases/news-releases/news-details/2024/Psychemedics-Corporation-Reports-2023-Financial-Results/default.aspx?utm_source=openai))