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STATEMENTS OF INCOME (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Revenue        
Product sales $ 7,200,385 $ 5,916,790 $ 24,787,885 $ 19,500,567
Contract research and development 201,293 374,019 668,024 766,866
Total revenue 7,401,678 6,290,809 25,455,909 20,267,433
Cost of sales 1,478,372 1,385,006 5,533,000 4,698,720
Gross profit 5,923,306 4,905,803 19,922,909 15,568,713
Expenses        
Research and development 700,609 596,492 1,972,505 2,112,630
Selling, general, and administrative 403,449 272,159 1,210,395 1,221,893
Total expenses 1,104,058 868,651 3,182,900 3,334,523
Income from operations 4,819,248 4,037,152 16,740,009 12,234,190
Interest income 406,092 283,940 1,040,528 868,519
Income before taxes 5,225,340 4,321,092 17,780,537 13,102,709
Provision for income taxes 994,016 855,685 3,318,723 2,411,228
Net income $ 4,231,324 $ 3,465,407 $ 14,461,814 $ 10,691,481
Net income per share - basic $ 0.88 $ 0.72 $ 2.99 $ 2.21
Net income per share - diluted 0.88 0.72 2.99 2.21
Cash dividends declared per common share $ 1.00 $ 1.00 $ 3.00 $ 3.00
Weighted average shares outstanding        
Weighted Average Number of Shares Outstanding, Basic 4,830,826 4,833,604 4,830,826 4,833,356
Weighted Average Number of Shares Outstanding, Diluted 4,832,368 4,835,770 4,831,168 4,835,781