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BioSpecifics Technologies Corp. Reports Second Quarter 2009 Financial Results
Date:8/12/2009

ral and administrative expenses for the second quarter ended June 30, 2009 totaled $1.1 million, compared to $1.2 million for the same period in 2008. The decrease in general and administrative expenses was primarily due to employee stock-based compensation costs and lower legal fees partially offset by outside consulting services.

As of June 30, 2009, BioSpecifics held cash and cash equivalents of $9.3 million, compared to $10.7 million on March 31, 2009.

Second Quarter Corporate Highlights

  • On April 28, 2009, the FDA accepted for Priority Review Auxilium's BLA for XIAFLEX(TM) for the treatment of Dupuytren's disease. The drug candidate will be reviewed by the Arthritis Advisory Committee, the advisory committee to the FDA's Division of Anesthesia, Analgesia and Rheumatology Products (DAARP), at a meeting scheduled to take place on September 16, 2009 at the Holiday Inn in Gaithersburg, MD. If XIAFLEX(TM) is approved by the FDA, Auxilium plans to launch in the U.S. within 60 days.
  • On June 29, 2009, BioSpecifics announced that it was added to the Russell 3000((R)) and Russell 2000 Indexes. The Russell 3000 Index measures the performance of the largest 3000 U.S. companies representing approximately 98% of the investable U.S. equity market. The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000 Index is a subset of the Russell 3000 Index representing approximately 8% of the total market capitalization of that index. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.

Webcast and Conference Call

The Company will host a conference call today at 4:30 p.m. ET to discuss its second quarter 2009 results.

To participate in the conference call, please dial 800-860-2442
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