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Condensed Consolidated Income Statements (unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Total Revenues $ 8,852,986 $ 7,850,774 $ 16,982,127 $ 14,940,183
Costs and expenses:        
Research and development 161,321 211,796 310,857 407,023
General and administrative 1,728,125 2,043,952 4,635,284 4,113,585
Total Cost and Expenses 1,889,446 2,255,748 4,946,141 4,520,608
Operating income 6,963,540 5,595,026 12,035,986 10,419,575
Other income:        
Interest income 517,156 273,746 966,580 491,697
Other income (expense) 0 81,985 0 96,663
Total other income 517,156 355,731 966,580 588,360
Income before income tax expense 7,480,696 5,950,757 13,002,566 11,007,935
Provision for income tax expense (1,054,236) (1,102,826) (2,159,511) (2,181,400)
Net income $ 6,426,460 $ 4,847,931 $ 10,843,055 $ 8,826,535
Basic net income per share (in dollars per share) $ 0.88 $ 0.67 $ 1.49 $ 1.23
Diluted net income per share (in dollars per share) $ 0.87 $ 0.66 $ 1.48 $ 1.21
Shares used in computation of basic net income per share (in shares) 7,308,268 7,215,057 7,292,663 7,204,040
Shares used in computation of diluted net income per share (in shares) 7,349,696 7,315,276 7,344,008 7,309,325
Royalties [Member]        
Revenues:        
Total Revenues $ 8,852,986 $ 7,815,504 $ 16,982,127 $ 14,900,504
Licensing Revenues [Member]        
Revenues:        
Total Revenues $ 0 $ 35,270 $ 0 $ 39,679