UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  March 18, 2019

BIOSPECIFICS TECHNOLOGIES CORP.
(Exact name of registrant as specified in its charter)

Delaware

 

001-34236

 

11-3054851

(State or other jurisdiction

 

(Commission

 

(IRS Employer

of incorporation)

 

File Number)

 

Identification No.)

     

35 Wilbur Street
Lynbrook, NY 

 

11563

(Address of principal executive offices)

 

(Zip Code)

Registrant's telephone number, including area code: 516.593.7000

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Introductory Comment

Throughout this Current Report on Form 8-K, the terms "we," "us," "our" and "Company" refer to BioSpecifics Technologies Corp.

Item 8.01. Other Events.

On March 18, 2019, the Company issued a press release that announced, with great sadness, that Thomas L. Wegman, President of the Company, passed away on March 13, 2019. Mr. Wegman served as an officer of BioSpecifics for over 20 years and as a member of the Company's Board of Directors since 1994. The Company will continue to be actively managed by its current employees and the Company's Board of Directors. Succession planning is underway and new management positions will be announced.

The press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01. Financial Statements and Exhibits.

(d)

Exhibit No.

Description

99.1

Press Release dated March 18, 2019.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: March 18, 2019

Biospecifics Technologies Corp.

 

 

By:

 

/s/ Carl A. Valenstein

 

 

Name: Carl A. Valenstein

 

 

Title:  Corporate Secretary

BioSpecifics Technologies Corp. Announces Passing of President Thomas L. Wegman

LYNBROOK, NY - March 18, 2019 - 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 the U.S. and Xiapex® in Europe, today announced with great sadness that Thomas L. Wegman, President of BioSpecifics, passed away on March 13, 2019. Mr. Wegman served as an officer at BioSpecifics for over 20 years and was a member of the Board of Directors since 1994.

"It is with great sadness that we report the passing of Tom Wegman. The entire BioSpecifics family mourns this loss and on behalf of our Board of Directors and employees, we send our condolences to the Wegman family," said Michael Schamroth, an Independent Director of the BioSpecifics Board of Directors.  "BioSpecifics was founded by Tom's late father, Edwin H. Wegman, and Tom certainly fulfilled his legacy in his more than 20 years with the company. Tom brought BioSpecifics to new heights and we hope to continue in his legacy in this next chapter with the BioSpecifics team."

BioSpecifics will continue to be actively managed by its current employees and Board of Directors. Succession planning is underway and new management positions will be announced.

About BioSpecifics Technologies Corp.

BioSpecifics Technologies Corp. is a biopharmaceutical company that has developed injectable collagenase for thirteen clinical indications to date. Injectable collagenase is marketed as XIAFLEX® in the U.S. for the treatment of Dupuytren's contracture and Peyronie's disease by BioSpecifics' partner, Endo International plc (Endo). XIAFLEX® is also commercialized in Japan, Europe, Canada and Australia for Dupuytren's contracture and for Peyronie's disease in Canada, Europe and Australia. The CCH research and development pipeline includes several additional promising indications, including two Phase 3 clinical trials for the treatment of cellulite with top-line data reported in the fourth quarter of 2018 and a BLA submission expected in the second half of 2019 with an expected commercial launch in the second half of 2020. BioSpecifics is managing the development of CCH for the treatment of uterine fibroids with full Phase 1 data to be presented at the 66 th Annual Society for Reproductive Investigation in March 2019. For more information, please visit www.biospecifics.com .

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Contact:

Stern Investor Relations, Inc.

Julie Seidel

212-362-1200

julie.seidel@sternir.com

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