BioSpecifics Technologies Corp. (BSTC) said Thursday that its Board of Directors has reauthorized the stock repurchase program under which the company is authorized to repurchase up to $2 million of its outstanding common stock.
Pursuant to the repurchase program, over the next year BioSpecifics plans to repurchase stock through a broker in the open market, provided that the timing, actual number and price per share of the stock to be purchased will be subject to market conditions.
BioSpecifics intends to hold any reacquired stock in treasury.
As of November 2, BioSpecifics had about 6.39 million shares of common stock outstanding.
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