BioSpecifics Technologies Corp. is a biopharmaceutical company. The Company is engaged in the development of an injectable collagenase for multiple indications. The Company has a development and license agreement with Auxilium Pharmaceuticals, Inc. (Auxilium) for injectable collagenase for marketed indications and collagenase clostridium histolyticum (CCH) for indications in development. Auxilium has an option to acquire additional indications that the Company may pursue, including human and canine lipoma. The Company generates revenue primarily from Auxilium pursuant to the Second Amended and Restated Development and License Agreement with Auxilium (Auxilium Agreement). Under the Auxilium Agreement, the Company receives license, sublicense income, royalties, milestones and mark-up on cost of goods sold payments related to the sale and approval of XIAFLEX.