<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2019-10-23</periodOfReport>

    <issuer>
        <issuerCik>0000875622</issuerCik>
        <issuerName>BIOSPECIFICS TECHNOLOGIES CORP</issuerName>
        <issuerTradingSymbol>BSTC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001209726</rptOwnerCik>
            <rptOwnerName>BUCHI J KEVIN</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O BIOSPECIFICS TECHNOLOGIES CORP.</rptOwnerStreet1>
            <rptOwnerStreet2>35 WILBUR STREET</rptOwnerStreet2>
            <rptOwnerCity>LYNBROOK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>11563</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Executive Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>46.52</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2019-10-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>85000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2029-10-23</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>85000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>85000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The stock options were granted under the BioSpecifics Technologies Corp. 2019 Omnibus Incentive Compensation Plan.</footnote>
        <footnote id="F2">The stock options vest ratably over the four-year period following the date of grant, October 23, 2019, subject to the Reporting Person's continued service to the employer through the vesting date.  In the event the Reporting Person is terminated (a) by the employer without cause, (b)  by the Reporting Person for good reason, or (c) by the employer without cause or by the Reporting Person for good reason, in each case upon or within one (1) year following a change of control, the stock options will fully vest.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ J. Kevin Buchi,  by Carl A. Valenstein, attorney-in-fact</signatureName>
        <signatureDate>2019-10-25</signatureDate>
    </ownerSignature>
</ownershipDocument>
