Psychemedics

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Psychemedics Corporation (NASDAQ: PMD) is a mission-driven diagnostics company focused on creating safer, drug-free workplaces and communities through advanced hair drug testing. Its core achievement is the development and commercialization of a patented, FDA-cleared technology platform that detects drug use with a longer window and greater deterrence than traditional methods. The company's strategy is to leverage its scientific leadership, extensive patent portfolio, and deep industry relationships to maintain its dominant niche position while expanding into adjacent markets such as education and international regions.

Proprietary RIAH (Radioimmunoassay of Hair) platform featuring a patented chemical digestion process to release embedded drug metabolites, followed by screening via radioimmunoassay and confirmation with GC/MS or LC/MS/MS.

Psychemedics competes directly with other hair testing labs (e.g., Quest, LabCorp) and broadly against urine and oral fluid testing. Its competitive advantage is built on deep scientific specialization, nine patents, exclusive FDA clearances, and a focus on detection rates and deterrence rather than just low cost.