News Spotlight: BioSpecifics Technologies Corp. (NASDAQ:BSTC)

BioSpecifics Technologies Corp. (NASDAQ:BSTC) changed 3.53% to recent value of $58.38. The stock transacted 53639 shares during most recent day however it has an average volume of 49.48K shares. It spotted trading -16.60% off 52-week high price. On the other end, the stock has been noted 39.00% away from the low price over the last 52-weeks.

On April 9, 2020, BioSpecifics Technologies Corp. (NASDAQ:BSTC) a biopharmaceutical company that originated and continues to develop collagenase-based therapies with a first in class collagenase-based product marketed as XIAFLEX® in North America, disclosed that its Board of Directors appointed Mike Sherman and Corey Fishman to serve as Independent Directors, effective immediately. Mike Sherman and Corey Fishman will both join the Board’s Audit Committee, with Mr. Sherman serving as an audit committee financial expert. Corey Fishman will also join the Intellectual Property Committee.

Mike and Corey both bring tremendous operational and functional insight, as well as industry and business acumen, to the BioSpecifics Board of Directors and we are so pleased to have them join us as we continue to unlock value creating opportunities for the CCH portfolio of commercial and pipeline assets, and as we identify external strategic opportunities. We believe our newest members will make significant contributions to the future outlook of the Company, said Jennifer Chao, Chairman of the Board of Directors.

Mike Sherman is currently Chief Executive Officer of Chimerix Before joining the Chimerix in 2019, he served as Chief Executive Officer of Endocyte prior to its $2.1 billion acquisition by Novartis in 2018. Mr. Sherman repositioned the company by re-prioritizing the pipeline, acquiring an external asset for the treatment of advanced prostate cancer, and aggressively executing a Phase 3 regulatory and clinical strategy. He joined the company in 2006 as Chief Financial Officer, was named Chief Operating Officer in 2014 and was instrumental in Endocyte’s initial public offering and four subsequent financings. Prior to joining Endocyte, Mr. Sherman served in various executive roles at Guidant Corporation, a cardiovascular device manufacturer acquired by Boston Scientific Corporation. These roles covered a breadth of functional areas including strategic planning, commercial operations in the US and Europe, and business development. Mr. Sherman holds a B.A. in economics from DePauw University and an M.B.A. from the Amos Tuck School of Business at Dartmouth, graduating as a Tuck Scholar. Mr. Sherman currently serves as Chairman of the Board of Trustees for the Children’s Museum of Indianapolis. He also served on the Board of Directors at Mead Johnson Nutrition until the company’s acquisition by Reckitt Benckiser.

BSTC has an operating margin of 74.20% while its profit margin remained 64.10% for the last 12 months. Its earnings per share (EPS) expected to touch remained 21.70% for this year while earning per share for the next 5-years is expected to reach at 22.00%.

The company has 7.80M of outstanding shares and 5.42M shares were floated in the market. According to the most recent quarter its current ratio was 76.8 that represents company’s ability to meet its current financial obligations. The price moved ahead of 13.53% from the mean of 20 days, 2.54% from mean of 50 days SMA and performed 4.10% from mean of 200 days price. Company’s performance for the week was 4.38%, 4.38% for month and YTD performance remained 2.53%.

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