ENGLEWOOD, Colo., Nov. 10,
2022 /PRNewswire/ -- Lightwave Logic, Inc. (NASDAQ:
LWLG), a technology platform company leveraging its proprietary
electro-optic (EO) polymers to transmit data at higher speeds with
less power, today provided a corporate update in conjunction
with the filing of its Quarterly Report on Form 10-Q for the third
quarter ended September 30, 2022.
Third Quarter 2022 and Subsequent Company Highlights:
- As of September 30, 2022, the
company's cash and cash equivalents were $25
million, enabling it to finance operations through
March 2024.
- Achieved a world-record demonstration of a 250GHz super high
bandwidth electro-optical-electrical link through a collaboration
with ETH Zurich, with
breakthrough peer-reviewed paper results presented at the
prestigious European Conference on Optical Communications
(ECOC).
- Achieved world record performance for low-power consumption
ultra-high-speed 'green' slot modulators in collaboration with
Karlsruhe Institute of Technology and its spin-off SilOriX as part
of a peer-reviewed post-deadline paper presented at the ECOC.
- Presented at leading investor and industry conferences
internationally, including the 2022 European Conference on Optical
Communications, H.C. Wainwright 24th Annual Global
Investment Conference, LD Micro Main Event XV, Benzinga All-Access
Show and Jefferies Semis IT Hardware & Comm Infrastructure
Summit.
The full text of the company's Quarterly Report on Form 10-Q for
the third quarter ended September 30,
2022 was filed with the SEC on November 9, 2022 can be found here.
Management Commentary
"We successfully produced two world record achievements with
two of our collaboration partners in the third quarter,
further illustrating the significant potential our technologies
offer," said Dr. Michael Lebby,
Chairman and Chief Executive Officer of Lightwave Logic. "Our
continued improvement and forward movement reaffirm my view that
our technologies are not only vastly superior in performance, but
are simple to implement as well – making them the right platform
for next-generation optical systems for years to come.
"Our achievement of world record performance for a silicon slot
modulator using our advanced polymer material – all as part of our
collaboration with the Karlsruhe Institute of Technology and
SilOriX – shows that our materials can outperform in a variety of
device structures and designs. This allows our platform to become a
true 'green photonics' enabler for the industry. The acceptance of
a post-deadline at ECOC 2022 provided third party validation of
this significant result.
"Our second world record demonstration was of a 250GHz super
high bandwidth electro-optical-electrical link through another
partner collaboration, this time using Polariton's high-speed
plasmonic modulators containing our proprietary
PerkinamineTM chromophores and ETH
Zurich's high-speed graphene
photodetectors. Our incredible result demonstrates that our
electro-optic polymers will be instrumental not only for
next-generation high-capacity interconnects, but for the more
advanced and faster links that will be required for succeeding
generations.
"Looking ahead, we have positioned Lightwave as a clear thought
leader in the space, demonstrating record-breaking achievements of
our technologies alongside our partners – concurrent with our
constant efforts to advance the commercialization of our
technology. We continue to see incredible interest from industry
experts attending events such as ECOC and others. I look forward to
sharing our additional progress in the months to come as we strive
to create sustainable, long-term value for our shareholders,"
concluded Dr. Lebby.
About Lightwave Logic,
Inc.
Lightwave
Logic, Inc. (NASDAQ: LWLG) is developing a platform leveraging its
proprietary engineered electro-optic (EO) polymers to transmit data
at higher speeds with less power. The company's high-activity and
high-stability organic polymers allow Lightwave Logic to create
next-generation photonic EO devices, which convert data from
electrical signals into optical signals, for applications in data
communications and telecommunications markets. For more
information, please visit the company's website
at lightwavelogic.com.
Safe Harbor Statement
The information posted in this
release may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. You can
identify these statements by use of the words "may," "will,"
"should," "plans," "explores," "expects," "anticipates,"
"continue," "estimate," "project," "intend," and similar
expressions. Forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those projected or anticipated. These risks and uncertainties
include, but are not limited to, lack of available funding; general
economic and business conditions; competition from third parties;
intellectual property rights of third parties; regulatory
constraints; changes in technology and methods of marketing; delays
in completing various engineering and manufacturing programs;
changes in customer order patterns; changes in product mix; success
in technological advances and delivering technological innovations;
shortages in components; production delays due to performance
quality issues with outsourced components; those events and factors
described by us in Item 1.A "Risk Factors" in our most recent Form
10-K and Form 10-Q; other risks to which our company is subject;
other factors beyond the company's control.
Investor Relations
Contact:
Lucas
A. Zimmerman
MZ Group - MZ North America
949-259-4987
LWLG@mzgroup.us
www.mzgroup.us
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SOURCE Lightwave Logic, Inc.