Revenue Update on BioSpecifics Technologies Corp.(NASDAQ:BSTC)

BioSpecifics Technologies Corp.(NASDAQ:BSTC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $6.18M. Analysts estimated a revenue of $6.25M. Earnings per share were $0.35. Analysts had estimated an EPS of $0.35.

BioSpecifics Technologies Corp. (BSTC) shares turned negative on Wednesdays trading session with the shares closing down -0.78 points or -2.00% at a volume of 28,542. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $39.5. The peak price level was also seen at $39.5 while the days lowest was $38. Finally the shares closed at $38.13. The 52-week high of the shares is $63.195 while the 52-week low is $30.7. According to the latest information available, the market cap of the company is $267 M.

Several Insider Transactions has been reported to the SEC. On May 19, 2016, Toby Wegman (director) sold 25,000 shares at $33.76 per share price.Also, On May 19, 2016, Thomas Wegman (President) sold 50,000 shares at $33.76 per share price.On Jul 21, 2015, Paul Gitman (director) sold 8,692 shares at $53.00 per share price, according to the Form-4 filing with the securities and exchange commission.

BioSpecifics Technologies Corp. is a biopharmaceutical company. The Company is engaged in the development of an injectable collagenase for multiple indications. The Company has a development and license agreement with Auxilium Pharmaceuticals Inc. (Auxilium) for injectable collagenase for marketed indications and collagenase clostridium histolyticum (CCH) for indications in development. Auxilium has an option to acquire additional indications that the Company may pursue including human and canine lipoma. The Company generates revenue primarily from Auxilium pursuant to the Second Amended and Restated Development and License Agreement with Auxilium (Auxilium Agreement). Under the Auxilium Agreement the Company receives license sublicense income royalties milestones and mark-up on cost of goods sold payments related to the sale and approval of XIAFLEX.

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