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BIOSPECIFICS TECHNOLOGIES ANNOUNCES 100 PERCENT STOCK DIVIDEND ON ITS COMMON AND CONVERTIBLE PREFERRED STOCKS

 BIOSPECIFICS TECHNOLOGIES ANNOUNCES 100 PERCENT STOCK DIVIDEND
 ON ITS COMMON AND CONVERTIBLE PREFERRED STOCKS
 LYNBROOK, N.Y., March 12 /PRNewswire/ -- BioSpecifics Technologies Corp. today announced a 100 percent dividend on its common stock (NASDAQ-NMS: BSTC) and its preferred stock. According to Edwin H. Wegman, BioSpecifics chairman and president, the dividend will be paid on April 20, 1992, to stockholders of record on April 14, 1992. The company currently has 2,253,198 common shares outstanding and 150,000 shares of Series A convertible redeemable preferred stock, par value $.50 per share, convertible into one share of common stock.
 BioSpecifics produces and licenses pharmaceutical products for domestic and international sales. The company is also engaged in various stages of research, development, clinical testing and marketing of additional pharmaceutical products and therapeutically active molecules. The company's current principal product is its FDA-approved enzyme Collagenase ABC, used primarily in topical applications for treatment of dermal ulcers and necrotic burns.
 BSTC recently reported record third quarter sales and earnings for the three months ended Oct. 31, 1991.
 -0- 3/12/92
 /CONTACT: Edwin H. Wegman, chairman and president of BioSpecifics, 516-593-7000; or Sam Witchel of Scharff, Witchel & Co., 212-983-1060, for BioSpecifics/
 (BSTC) CO: BioSpecifics Technologies Corp. ST: New York IN: MTC SU: DIV


GK-OS -- NY029 -- 7713 03/12/92 10:50 EST
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Publication:PR Newswire
Date:Mar 12, 1992
Words:218
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