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- BioSpecifics announced positive, statistically significant results from a Phase 2a study involving XIAFLEX for potential treatment of cellulite.
- Previously I shared that top-line 30-day data from Phase Ib study showed that XIAFLEX is effective, safe and well-tolerated for Cellulite.
- The positive and statistically significant results from the Phase 2a study confirm my bullish outlook for BioSpecifics.
- BioSpecifics reported second quarter 2014 total revenue of $2.7 million, a decrease of 19% year-over-year.
- Net income came in at $0.6 million or $0.09 per basic share, compared to net income of $1.0 million or $0.16 per basic share in the year-ago period.
- In my original analysis I said that XIAFLEX could boost BioSpecifics' revenue and earnings significantly.
- The company saw significant growth in revenues from XIAFLEX in the United States in the second quarter, most notably in Peyronie's disease, which confirms my view.