<PAGE> 1
Rule 424(b)(3)
File No. 33-45332
PSYCHEMEDICS CORPORATION
SUPPLEMENT NO. 15 DATED MAY 13, 1996
TO PROSPECTUS DATED MAY 27, 1992
INCORPORATING AND RESTATING SUPPLEMENTS NUMBERS ONE THROUGH FOURTEEN
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During the period November 23, 1992 to May 10, 1996, A. Clinton Allen made
gifts of an aggregate of 178,203 shares of Common Stock of the Corporation to
the President and Fellows of Harvard College, Bob Chandler Foundation, Cardinal
Spellman High School, Concord Academy, Noble & Greenough School, Phillips Exeter
Academy, Miss Porter's School, Inc., Milton Academy, Walker P. Allen, Samantha
L. Allen, Lawson K. Allen, Richard Allen, Carol Allen and Richard J. Allen, as
Custodian for Megan Allen UTMA. A. Clinton Allen also sold privately to John J.
Melk, one of the Security Holders listed in the Prospectus, 27,397 shares.
On December 26, 1995 John W. Croghan made a gift of shares of Common Stock
of the Corporation to the Archbishop of Chicago Big Shoulders Fund, including a
gift of 11,338 shares of the Corporation, the resale of which is to be effected
under the Registration Statement of which this Prospectus is a part.
During the period December 28, 1995 to January 3, 1996 Donald F. Flynn
transferred an aggregate of 1,392,700 shares of Common Stock of the Corporation
to DNB, L.P.
As a result of these transfers, the information regarding Selling Security
Holders in the Prospectus is hereby supplemented as follows:
<TABLE>
1. The following are added as additional Security Holders:
<CAPTION>
Shares Shares
Beneficially Shares of Beneficially
Owned Prior Common Stock Owned After
Security Holder to Offering % Offered Hereby the Offering %
- --------------- ----------- - -------------- ------------ -
<S> <C> <C> <C> <C> <C>
Samantha L.
Allen 27,295 * 27,295 0 0
Walker P. Allen 27,295 * 27,295 0 0
Lawson K. Allen 27,295 * 27,295 0 0
Noble & Greenough School 1,500 * 1,500 0 0
Phillips Exeter Academy 3,500 * 3,500 0 0
Miss Porter's School, Inc. 15,700 * 15,700 0 0
</TABLE>
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<TABLE>
<S> <C> <C> <C> <C> <C>
Richard J. Allen, as Custodian 3,500 * 3,500 0 0
for Megan Allen UTMA
Milton Academy 4,000 * 4,000 0 0
Concord Academy 2,000 * 2,000 0 0
Bob Chandler Foundation 2,000 * 2,000 0 0
Archbishop of Chicago Big 11,338 * 11,338 0 0
Shoulders Fund
Richard Allen 3,809 * 3,809 0 0
Carol Allen 3,809 * 3,809 0 0
DNB, L.P. 1,392,700 * 1,392,700 0 0
Cardinal Spellman 2,000 * 2,000 0 0
High School
<FN>
- -----------------
* = less than 1%.
</TABLE>
2. The information in the table of Selling Security Holders regarding
Shares Beneficially Owned Prior to the Offering, and Shares of Common Stock
Offered Hereby, with respect to A. Clinton Allen, is reduced by 240,100 and
240,100 shares respectively; with respect to John J. Melk, is increased by
27,397 and 27,397 shares, respectively; with respect to the President and
Fellows of Harvard College (which includes 2,500 shares held in the name of its
Nominee, Harvard & Co.), is increased by 89,000 and 89,000 respectively; with
respect to John W. Croghan, is reduced by 11,338 and 11,338 respectively; and
with respect to Donald F. Flynn, is reduced by 1,392,700 and 1,392,700
respectively.
