SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2012 USD ($) Payment	Dec. 31, 2015 USD ($) Customer Quarter Payment $ / shares shares	Dec. 31, 2014 USD ($) Customer $ / shares shares	Dec. 31, 2013 USD ($) $ / shares shares
Cash, Cash Equivalents and Investments [Abstract]
Aggregate fair value of investments		$ 31,900,000	$ 12,200,000
Held-to-maturity securities, unrecognized gain		0	0
Held-to-maturity securities, unrecognized loss		0	0
Fair Value Measurements [Abstract]
Amortized premium included in interest income		(316,000)	(18,000)
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity securities, current		28,347,542	10,900,437
Held-to-maturity securities, noncurrent		3,596,541	1,250,000
Concentration of Credit Risk and Major Customers [Abstract]
Accounts receivable		$ 2,547,920	$ 2,938,731
Number of customers | Customer		1	1
Royalty revenue		$ 20,800,757	$ 12,985,370	$ 11,767,758
Royalty / Mark-up on Cost of Goods Sold / Earn-Out Revenue [Abstract]
Number of quarters after which revenue is recognized | Quarter		1
Number of days after calendar year, after which payments and report are received		90 days
Treasury Stock [Abstract]
Treasury stock purchased (in shares) | shares		40,001	30,848	40,107
Average price of share (in dollars per share) | $ / shares		$ 45.06	$ 26.89	$ 16.83
Deferred Revenue [Abstract]
Deferred revenue from foreign tax withholding		$ 100,000
Deferred revenue recognized		49,378	$ 59,255	$ 133,524
Outstanding deferred revenue amount		198,757	148,135
Reimbursable Third Party Development Costs [Abstract]
Accrued patent costs		20,000	34,000
Third Party Royalties and Royalty Buy-Down [Abstract]
Royalty expenses		1,400,000	800,000	400,000
Initial payment for royalty buy down	$ 1,500,000	$ 600,000
Number of additional cash payments for royalty buy-down | Payment	5
Number of cash payments made for royalty obligation | Payment		3
Deferred costs, amortization period		5 years
Amount amortized related to agreement		$ 600,000	100,000	0
Deferred royalty buy-down - long term		3,900,000	3,800,000
Net Patent Costs [Abstract]
Net patent costs		275,206	295,030
Estimated aggregate amortization expense [Abstract]
2016		38,000
2017		38,000
2018		38,000
2019		38,000
2020		26,000
Endo [Member]
Concentration of Credit Risk and Major Customers [Abstract]
Accounts receivable		2,500,000	3,000,000
Royalty revenue		22,800,000	14,000,000	10,900,000
Municipal Bonds [Member]
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity securities, current		6,461,216	2,287,773
Held-to-maturity securities, noncurrent		155,826	0
Corporate Bonds [Member]
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity securities, current		9,882,285	0
Held-to-maturity securities, noncurrent		1,597,715	0
Certificates of Deposit [Member]
Schedule of Held-to-maturity Securities [Line Items]
Held-to-maturity securities, current		12,004,041	8,612,664
Held-to-maturity securities, noncurrent		1,843,000	1,250,000
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Increase in capitalized patent costs		26,000
Capitalized patents costs reimbursable to customer		20,000
Net Patent Costs [Abstract]
Patents		697,260	671,326
Accumulated Amortization		(422,054)	(376,296)
Net patent costs		275,206	295,030
Amortization expense for patents		$ 45,758	$ 119,920	$ 64,323
Patents [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets with definite lives useful life		1 year
Patents [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets with definite lives useful life		13 years