Shares in Simulations Plus Inc. soared more than 15 percent Monday after the company said it more than doubled first quarter profit.

Simulations Plus reported first quarter net income for the quarter ending Nov. 31 of $243,260 (2 cents per share), a 233 percent jump from $73,215 (less than 1 cent per share) from the same quarter a year earlier.

Sales for the Lancaster-based pharmaceutical software developer also surged 40 percent to $1.5 million thanks to a 75 percent jump in revenues from pharmaceutical software and services, the company said in a statement.

Shares in Simulations Plus surged more than 15 percent in afternoon trading Monday on the Nasdaq. Shares have increased 31 percent over the last year.