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BioSpecifics Technologies Corp. Reports Second Quarter 2013 Financial Results
Date:8/8/2013

LYNBROOK, N.Y., Aug. 8, 2013 /PRNewswire/ -- BioSpecifics Technologies Corp. (NASDAQ: BSTC), a biopharmaceutical company developing first-in-class collagenase-based products marketed as XIAFLEX® in the U.S. and XIAPEX® in the EU, today reported its financial results for the second quarter ended June 30, 2013 and provided a corporate update.

"We continue to make steady progress in the clinical development and commercial growth of XIAFLEX. We are anticipating a major landmark related to the U.S. Food and Drug Administration's decision on the potential approval of the supplemental Biologics License Application for Peyronie's disease. In addition we were pleased that our partner Auxilium announced a collaboration with Swedish Orphan Biovitrum to develop and market the drug in Eurasia and Africa, expanding its availability to many more patients in need," reflected Thomas L. Wegman, President of BioSpecifics. "We and Auxilium continue to develop XIAFLEX in other indications as well; we have completed enrollment in our Phase II human and canine lipoma trials and expect to announce top-line data from these trials in the second half of this year. Additionally, Auxilium is continuing the development of XIAFLEX in cellulite and frozen shoulder and we anticipate the initiation of new trials in those indications in 2013."

Second Quarter 2013 Financial Results BioSpecifics reported a net income of $1.0 million for the second quarter ended June 30, 2013, or $0.16 per basic share and $0.15 per diluted share, compared to a net income of $0.7 million, or $0.11 per basic share and $0.10 per diluted share for the same period in 2012.

Total revenue for the second quarter ended June 30, 2013 was $3.3 million, compared to $2.6 million for the same peri
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