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BioSpecifics Technologies Corp. Reports Third Quarter 2013 Financial Results
Date:11/12/2013

LYNBROOK, N.Y., Nov. 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® (the EU tradename for CCH) in the EU, today reported its financial results for the third quarter ended September 30, 2013 and provided a corporate update.

"We are excited about the potential approval of CCH for Peyronie's disease with the pending PDUFA date of December 6, 2013. In addition, we are very pleased with the continued clinical advances made by our partner Auxilium this quarter and anticipate reporting progress in several development programs in the fourth quarter. A Phase 2a study for the treatment of cellulite was recently initiated and we expect the next-stage trial for frozen shoulder to commence by the end of the fourth quarter of 2013. We also expect results to be reported from two ongoing post-approval trials of XIAFLEX for Dupuytren's contracture: the 5-year recurrence data from the CORDLESS trial and top-line data from the Phase 3b multi-cord study which could lead to a label expansion in this indication," commented Thomas L. Wegman, President of BioSpecifics. "We are further advancing our own CCH development programs and expect to report top-line data from our Phase 2 trials in both human and canine lipomas in the fourth quarter of 2013. In addition, we are very encouraged by the ongoing preclinical studies for the potential use of CCH in uterine fibroids, which would represent a significant therapeutic advantage over current available options."

Third Quarter 2013 Financial Results BioSpecifics reported net income of $1.2 million for the third quarter ended September 30, 2013, or $0.19 per basic share and $0.17 per diluted share, compared to net income of
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