PharmChem Laboratories Inc (PCHM)

[LMLYP]

In the SD 24/7 program, the patch is picking up market share versus urine analysis, due to "social distancing".

October SD 24/7 tests administered were flat year over year, 348 tests versus 348 tests a year ago


See comments at bottom regarding market share gains, even if they are small.


https://atg.sd.gov/legal/DUI247/statistics.aspx


Tests Administered 2020

October 348
September 399
August 381
July 377
June 323
May 322
April 253
March 300
February 268
January 221


Tests Administered 2019

December 399
November 341
October 348
September 407
August 362
July 387
June 363
May 358
April 398
March 342
February 319
January 394

Tests Administered 2018

December 327
November 367
October 377
September 353
August 406
July 461
June 447
May 402
April 402
March 383
February 356
January 442

Tests Administered 2017

December 415
November 324
October 385
September 369
August 355
July 376
June 432
May 427
April 308
March 232
February 256
January 352

Tests Administered 2016

December 335
November 358
October 305
September 318
August 353
July 323
June 324
May 256
April 283
March 291
February 261
January 251


The monthly reports refer to "participants" which tells us how many people are given the patch and how many others are tested with urine analysis.

Urine Analysis through October 31, 2020 13,268 participants
Drug Patch through October 31, 2020 2,551 participants

The drug patch appears to have a lifetime market share of 16% in drug testing. However, the patch was a later entrant by four years than urine testing, so it's at least a little bit larger than 16%.

With that said, the first couple of months in 2020 showed that the patch was somewhere between 22% and 25%, which is not too far off from 16%.

Also note that February had a total of 200 participants. It was the "highest" month by far for drug testing for which I had numbers, which speaks to the slowdown this year.

I know that this is a tiny sample size, January is missing, April has an error, other numbers of partipants in past years had errors in reporting, but I think that the last six months are higher than the six months preceding it which is another example of "social distancing" benefitting use of the patch


Market share

February Urine 156 participants Patch 44 participants (25% market share)
March Urine 116 participants Patch 33 participants (22% market share)
April Urine minus 20 participants Patch 56 participants (error)
May Urine 51 partipants Patch 31 partipants (38% market share)
June Urine 60 partipants Patch 38 partipants (39% market share)
July Urine 59 partipants Patch 45 participants (43% market share)
August Urine 95 participants Patch 33 participants (26% market share)
September Urine 95 participants Patch 47 participants (33% market share)
October Urine 85 participants Patch 54 participants (39% market share)


In the last six months, the patch has averaged a 36% market share.

Prior to that, the market share was 25% or less.

Was this informationn worthy of posting because of a small sample size, I don't know, but it at least confirms the story that we're kicking ass.