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BioSpecifics Technologies Corp. Announces Board Authorization of up to $2 Million Stock Repurchase Program
Date:12/12/2013

LYNBROOK, N.Y., Dec. 12, 2013 /PRNewswire/ -- BioSpecifics Technologies Corp. (NASDAQ: BSTC), a biopharmaceutical company developing first in class collagenase-based products marketed as XIAFLEX (collagenase clostridium histolyticum or CCH) in the U.S and XIAPEX® in the EU, today announced that its Board of Directors has reauthorized the stock repurchase program under which BioSpecifics is authorized to repurchase up to $2 million of its outstanding common stock. This decision reflects BioSpecifics' continued commitment to increasing value for its stockholders and its confidence that it will achieve its corporate goals and remain profitable on an ongoing annual basis.

Pursuant to the repurchase program, BioSpecifics plans to repurchase stock through a broker in the open market, provided that the timing, actual number and price per share of the stock to be purchased will be subject to market conditions, applicable legal requirements, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended, and various other factors. BioSpecifics intends to hold any reacquired stock in treasury. The repurchase program may be suspended or discontinued at any time by BioSpecifics. BioSpecifics has no obligation to repurchase stock under the repurchase program.

As of November 7, 2013, BioSpecifics had 6,337,968 shares of common stock outstanding.

About BioSpecifics Technologies Corp.
BioSpecifics Technologies Corp. is a biopharmaceutical company that has developed injectable collagenase for twelve clinical indications to date. Injectable collagenase is currently marketed as XIAFLEX® (collagenase clostridium histolyticum or CCH) in the U.S. for the treatment of adult Dupuytren's contracture patients with a palpable cord in the palm by BioSpecifics' partner, Auxilium Pharmaceuticals, Inc. (Auxilium). Actelion P
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