Welcome to Just Answer and thanks for your question. A cyst that is going to heal will have done so in 5-7 days at the most. It appears yours may be infected, and your doctor will need to prescribe antibiotics. If it was truly a cyst, the casing may also need to be removed.
It can be an infected hair follicle, abscess, etc. as well as a cyst. A true cyst is enclosed in a casing, similar to a balloon enclosing water. You can pop the balloon and remove the water, but if the outside casing isn't removed, the cyst will recur. There is also the possibility of an infection when you don't use sterile technique. All infections require antibiotics to cure. Any lesion that is going to heal on its own will heal on a penis, which has very good blood supply, within a week at the outside. Therefore, you need to see someone to determine what is going on with this lesion.
I'm sorry, but any lesion that isn't healing in more than two weeks needs to be biopsied to determine what it is. That also gives an opportunity to culture and determine exactly what any infection is, all from the same sample.
ok last question..thanks again for your time...i assumed a biopsy is my only option at this point...based on the info that i've given you, and i know you have not seen my lesion but in your most educated guess what does my condition sound like to you? in the middle of october i shaved a hair from the shaft of my penis and days later the area was red with a distinct middle...after a few days the red dissappeared and the middle became a white, almost hard nodule that wasnt raised from the skin...when i put my finger under the nodule it was very obvious it was under the skin...when i squeezed the nodule it was slightly painful and a hole developed in the middle and sometimes a flesh colored substance would come out...than i lanced it...
It sounds more like an infected hair follicle. Often the infective organism is staph, which is the most common organism on the body. Keflex probably wasn't the best antibiotic if it were staph. I would have the biopsy so you can get the infection cleared up. Often a simple course of Bactrim will do the job when fancier antibiotics won't work.