SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Wegman Toby (Last) (First) (Middle) 4092 BOCAIRE BLVD. (Street) BOCA RATON FL 33487 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol BIOSPECIFICS TECHNOLOGIES CORP [ BSTC.OB ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 01/14/2008
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $0.001 par value	01/14/2008		J(2)		618,331	D	$0.00	1,430,111	I	Held by the Estate of Edwin H. Wegman(1)
Common Stock, $0.001 par value	02/01/2008		S(3)		205,114	D	$12	1,224,997	I	Held by the Estate of Edwin H. Wegman(1)
Common Stock, $0.001 par value	02/01/2008		X(3)		39,000	A	$1	1,263,997	I	Held by the Estate of Edwin H. Wegman(1)
Common Stock, $0.001 par value	02/01/2008		X(3)		100,000	A	$1.1	1,363,997	I	Held by the Estate of Edwin H. Wegman(1)
Common Stock, $0.001 par value	02/01/2008		S(3)		39,000	D	$12	1,324,997	I	Held by the Estate of Edwin H. Wegman(1)
Common Stock, $0.001 par value	02/01/2008		S(3)		100,000	D	$12	1,224,997	I	Held by the Estate of Edwin H. Wegman(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$1	02/01/2008		D(3)			39,000	09/30/2002	09/29/2012	Common Stock	39,000	$12	115,000	I	Held by the Estate of Edwin H. Wegman(1)
Stock Option (Right to Buy)	$1.1	02/01/2008		D(3)			100,000	01/23/2006	01/22/2011	Common Stock	100,000	$12	15,000(4)	I	Held by the Estate of Edwin H. Wegman(1)

Explanation of Responses:

1. The Reporting Person is an executor and beneficiary of the Estate of Edwin H. Wegman (the "Estate") and is therefore deemed to beneficially own shares of the Issuer's common stock that are held by The S.J. Wegman Company, a New York limited partnership ("SJW"), for the benefit of the Estate as well as shares that are held directly by the Estate.

2. On January 14, 2008, SJW distributed 618,331 shares of the Issuer's common stock to certain of its limited partners. As of January 14, 2008, the board of directors of the Issuer (the "Board") had voting and dispositive power over the remaining 1,224,997 shares of the Issuer's common stock that are held by SJW.

3. On February 1, 2008, the Estate simultaneously exercised its options to purchase an aggregate of 139,000 shares of the Issuer's common stock and sold those 139,000 shares as well as 205,114 additional shares to various private investors. Certain of the proceeds of these sales were used to repay a loan owned by the Estate to the Issuer. As a consequence of such repayment, the Board no longer has voting or dispositive power over the 1,224,997 shares held by SJW.

4. The Reporting Person directly holds an option to purchase 15,000 shares of the Issuer's common stock, which was granted by the Issuer on June 25, 2007.

	/s/ Toby Wegman	02/05/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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