Note 8 - Inventories

9 Months Ended

Sep. 30, 2015

Notes to Financial Statements

Inventory Disclosure [Text Block]

8.     Inventories

Inventories consist of the following:

	September 30, 2015		December 31,  2014
Raw materials	$	4,861,828	$	6,161,363
Work-in-process		3,924,389		3,041,227
Finished goods		3,288,940		3,204,186
Total	$	12,075,157	$	12,406,776

Inventories are stated at the lower of cost or market, with cost being determined using the first-in, first-out method. Work-in-process and finished goods inventories include materials, labor, and manufacturing overhead. Inventory costs associated with product candidates that have not yet received regulatory approval are capitalized if the Company believes there is probable future commercial use and future economic benefit.