BioSpecifics Technologies

Strong 2Q for ageless BioSpecifics Technologies

Significant progress in its clinical-development programs – and a chunky opt-in payment from a major international partner – won’t affect BioSpecifics Technologies Corp.’s financial fortunes until the third quarter, but the spry old timer of Long Island biopharmaceuticals is already riding high. The Lynbrook-based, circa-1957 “specialty pharmaceuticals corporation” – which produces collagenase-based therapies for Peyronie’s disease, which causes the penis to curve, sometimes painfully, during an erection – on Tuesday reported strong financial results for…


BioSpecifics surges on international breakout

A high-flying international performance by its flagship product Xiaflex marked a big year for Lynbrook pharma firm BioSpecifics Technologies Corp. The biopharmaceutical company reported its fourth-quarter and full-year 2015 financials Monday, highlighted by a 62 percent jump in annual revenues and a 107 percent leap in after-tax income. The strong earnings capped “an important year of commercial growth,” according to BioSpecifics President Thomas Wegman. Wegman credited the boastful bottom line primarily to new international pipelines…


Almost 60 years later, still very much a startup

By GREGORY ZELLER // “Innovative” is often associated with “new,” but when it comes to Long Island’s innovation economy, the region’s oldest biopharmaceutical company is leading the pack. With a five-person staff and a market cap over $300 million, Lynbrook’s BioSpecifics Technologies Corp. is one lean, mean biotech machine – and the most profitable days for the firm, which launched in 1957 among the nation’s first batch of biotech startups, may lie ahead. Consider the…