Single Column Posts

3 min read

Jeff Horn and Tim Tszyu will be aired live in the United States, as ESPN+ have picked up the fight, which will stream at 5...

5 min read

Indy 500 live: In a normal season is that the finale of what is commonly known as the Month of May in IndyCar racing. The...

4 min read

PSG vs RB Leipzig Live :Are two clubs which have made many enemies among football fans, but maybe not to the way they playwith. On...

4 min read

RB Leipzig v Paris Saint-Germain live stream: How to watch Champions League clash for free – kick-off time, TV Channel and radio coverage.Semifinals start Tuesday...

4 min read

Nets vs Raptors live :After two weeks of seeding games, the action inside the bubble at Disney World will continue with the 2020 NBA Playoffs....

3 min read

Raptors vs Nets Live : After Fourteen Days of seeding Matches, the action in the bubble at Disney World will last using the 2020 NBA...

4 min read

The Utah Jazz do Not have a Solid track record Contrary to the Denver Nuggets this season. Denver won all three matchups this season, all...

5 min read

Barcelona player talks about tonight's Champions League quarter-final against his former club Bayern Munich. The midfielder is well-known for his self-sacrificing style of drama and...

5 min read

Present Barcelona player talks about tonight's Champions League quarter-final against his former team -- Bayern Munich. The midfielder is well-known for his self-sacrificing style of...

6 min read

Current Barcelona player talks about tonight's Champions League quarter-final against his former team -- Bayern Munich. The midfielder is well known for his self-sacrificing manner...

September 22, 2020

The Post Wired

News On Trending

Earnings Alert: BioSpecifics Technologies Corp. (NASDAQ: BSTC)

Spread the love

BioSpecifics Technologies Corp. (NASDAQ: BSTC) reported change of 4.91% to $63.43 with the recent traded volume of 69938 shares in most recent trading session compared to an average volume of 47.00K. The stock was down over last five days period with -7.10%. The one month performance of stock was -14.63%. BSTC shares are at 2.60% for the quarter and driving a 36.36% return over the course of the past year and is now at -0.23% since this point in 2018.

BioSpecifics Technologies Corp. (NASDAQ: BSTC) declared its financial results for the fourth quarter and full year ended December 31, 2018 and provided a corporate update.

Fourth Quarter and Full Year 2018 Financial Results

BioSpecifics reported net income of $6.2 million for the fourth quarter ended December 31, 2018, or $0.85 per basic share and $0.84 per share on a fully diluted basis, compared to net income of $2.6 million, or $0.37 per basic share and $0.36 per share on a fully diluted basis, for the same period in 2017. For the full year ended December 31, 2018, the Company reported a net income of $20.1 million, or $2.77 per basic share and $2.73 per share on a fully diluted basis, compared to a net income of $11.3 million, or $1.58 per basic share and $1.55 per share on a fully diluted basis for the same period in 2017.

Total revenue for the fourth quarter ended December 31, 2018 was $9.9 million, compared to $6.7 million for the same period in 2017. For the full year ended December 31, 2018, total revenue was $33.0 million, compared to $27.4 million for the same period in 2017. The increase in total revenues for the quarterly and year-end periods was primarily due to increased sales of XIAFLEX® for the treatment of Peyronie’s Disease and Dupuytren’s Contracture reported to us by Endo.

Royalty and mark-up on cost of goods sold (COGS) revenues recognized under BioSpecifics’ agreement with Endo for the fourth quarter ended December 31, 2018 were $9.9 million compared to $6.7 million for the same period in 2017, an increase of $3.2 million or 48 percent. Total royalty and mark-up on COGS revenues for the year ended December 31, 2018 increased to $32.9 million as compared to $27.4 million in the same period in 2017. This increase in royalties and the mark-up on COGS in each quarterly and year end periods was primarily due to increased sales of XIAFLEX® for the treatment of Peyronie’s Disease and Dupuytren’s Contracture reported to us by Endo.

Licensing revenue consists of licensing fees, sublicensing fees and milestones. No licensing revenue was recognized for the fourth quarter ended December 31, 2018 as compared to approximately $4,000 for the same period in 2017. Licensing fees recognized for the years ended December 31, 2018 and 2017 were $40,000 and $18,000, respectively. Development licensing fees recognized for CCH are related to the cash payments received under the License Agreement in prior years and amortized over the expected development period. For the year ended December 31, 2018, we recognized the remaining nonrefundable upfront product license in accordance with ASC 606.

Research and development (R&D) expenses for the fourth quarter ended December 31, 2018 were $0.2 million compared to $0.3 million for the same period in 2017. For the year ended December 31, 2018, R&D expenses were $0.8 million, compared to $1.2 million in the same period in 2017.

General and administrative expenses for the fourth quarter ended December 31, 2018 were $2.5 million, compared to $1.6 million for the same period in 2017. For the year ended December 31, 2018, general administrative expenses were $8.8 million, compared to $8.5 million in the same period in 2017.

Provision for income taxes for the fourth quarter ended December 31, 2018 were $1.5 million, compared to $2.4 million for the same period in 2017. For the year ended December 31, 2018, provision for income taxes were $4.7 million as compared to $7.0 million in the same period of 2017.

As of December 31, 2018, BioSpecifics had cash and cash equivalents and investments of $82.0 million, compared to $65.1 million as of December 31, 2017.

As of December 31, 2018, BioSpecifics had 7.3 million shares of common stock outstanding.

The Company has earnings of $ 17.60M and made $6.60 sales for the last 12 months. Its quarter to quarter sales remained 26.20% and sales observed at 19.70% over past 5 years. The stock beta value is 1.29. BSTC is 9.46% upward its 200-day moving average. On a similar note, the stock is -5.39% above its 50-day moving average. The average volatility for the week and month was at 3.97% 4.09% respectively. The company holds 7.38M shares outstanding and 5.33M shares are floated in market.