June 7, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — BioSpecifics Technologies Corp. (NASDAQ: BSTC) said that its board of directors has authorized the repurchase of up to $2 million of the company’s outstanding common stock.

BioSpecifics said it has no obligation to repurchase stock under the repurchase program.

As of March 31, 2010, the company had 6,213,995 shares of stock outstanding.

New York-based BioSpecifics Technologies is a biopharmaceutical company that has developed injectable collagenase for various clinical indications, including Dupuytren's contracture, Peyronie's disease and frozen shoulder.

The company’s strategic partner Auxilium Pharmaceuticals, Inc. has gained approval of Xiaflex from the FDA in the U.S. for the treatment of Dupuytren's contracture. Pfizer, Inc. is responsible for marketing Xiaflex in Europe.

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