ENGLEWOOD, Colo., Aug. 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 second
quarter ended June 30, 2022.
Second Quarter 2022 and Subsequent
- As of June 30, 2022, the
Company's cash and cash equivalents were $24.8 million, enabling it to finance operations
through February 2024.
- Announced enhanced photostability results on the Company's
proprietary electro-optic polymer modulators - demonstrating the
reliability necessary for commercial deployments - all based on a
technology which can be ported into high-volume silicon foundries
and integrated onto a silicon photonics platform with other optical
- CEO Dr. Michael Lebby chaired
the 6th PIC International Conference in Belgium and led an invited talk entitled,
"Enabling lower power consumption optical networking using high
speed, low power polymer modulators", focusing on the issue of
reducing power consumption in datacenters and optical
- The Company's common stock was added to the Russell 3000®
Index, one of the most widely followed benchmarks globally, after
market open on June 27, 2022.
- Presented at leading investor conferences nationally, including
the LD Micro Invitational and the Benzinga All-Access Show – with
plans to attend the upcoming Jefferies Semis, IT Hardware &
Comm Infrastructure Summit.
The full text of the Company's Quarterly Report on Form 10-Q for
the second quarter ended June 30,
2022 filed with the SEC on August 9,
2022 can be found here.
"The second quarter of 2022 was marked by further fortification
of our patent portfolio as well as our inclusion on the Russell
3000® Index, an important milestone and testament to the Company's
potential," said Dr. Michael Lebby,
Chief Executive Officer of Lightwave Logic. "We believe that our
addition to this well-followed index will provide greater
visibility for Lightwave Logic within the broader investment
community and help to increase liquidity for our shareholders.
"We publicly announced three patent applications during the
quarter, two of which focus on manufacturing simplification and a
third on enhancing polymer modulator manufacturing in high-volume
foundries. These represent key aspects in achieving deep market
penetration, allowing our polymer technology platform to become the
engine for pluggable fiber optic transceivers that are being
utilized throughout internet infrastructure. The continued
fortification of our intellectual property portfolio positions us
to make polymers truly ubiquitous as we work to simplify the
production of polymer modulators for our foundry partners.
"Looking into the second half of 2022, we continue to make
significant progress to further advance our commercialization
efforts alongside our global foundry partners, while buildout out
our IP moat with each technology enhancement. Taken together, these
improvements are enabling an expedited commercialization process
through simplified manufacturing. We continue to focus on the
capital markets, attending a variety of investor conferences and
achieving inclusion on the Russell 3000® Index. I look forward to
providing further updates as we move closer to our end goal of mass
market commercialization," concluded Dr. Lebby.
About Lightwave Logic,
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
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
MZ Group - MZ North America
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SOURCE Lightwave Logic, Inc.