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Condensed Consolidated Income Statements - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Total Revenues $ 3,903,402 $ 8,852,986 $ 13,572,069 $ 16,982,127
Costs and expenses:        
Research and development 160,461 161,321 282,431 310,857
General and administrative 3,993,861 1,728,125 7,161,907 4,635,284
Restructuring charges     1,146,045  
Total Costs and Expenses 4,154,322 1,889,446 8,590,383 4,946,141
Operating income (250,920) 6,963,540 4,981,686 12,035,986
Other income:        
Interest income 390,888 517,156 870,597 966,580
Income before income tax expense 139,968 7,480,696 5,852,283 13,002,566
Provision for income tax expense (24,172) (1,054,236) (1,237,681) (2,159,511)
Net income $ 115,796 $ 6,426,460 $ 4,614,602 $ 10,843,055
Basic net income per share (in dollars per share) $ 0.02 $ 0.88 $ 0.63 $ 1.49
Diluted net income per share (in dollars per share) $ 0.02 $ 0.87 $ 0.63 $ 1.48
Shares used in computation of basic net income per share (in shares) 7,337,460 7,308,268 7,337,564 7,292,663
Shares used in computation of diluted net income per share (in shares) 7,361,764 7,349,696 7,361,256 7,344,008
Royalties        
Revenues:        
Total Revenues $ 3,903,402 $ 8,852,986 $ 13,572,069 $ 16,982,127