Lightwave Logic Provides First Quarter 2024 Corporate Update

In This Article:

Dr. Michael Lebby to Host Corporate Update Presentation, Tour of Englewood Facility and Live Device Demonstration Following Annual Meeting of Shareholders on May 22, 2024

ENGLEWOOD, Colo., May 13, 2024 /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 in a small form factor, today provided a corporate update in conjunction with the filing of its Quarterly Report on Form 10-Q for the first quarter ended March 31, 2024.

Lightwave Logic, Inc. Logo (PRNewsfoto/Lightwave Logic, Inc.)
Lightwave Logic, Inc. Logo (PRNewsfoto/Lightwave Logic, Inc.)

First Quarter 2024 and Subsequent Company Highlights:

  • Over 20 major corporations have  viewed Lightwave Logic's technology demo of our polymer modulators with world-class performance of 200Gbps at 1V drive voltage.

  • Provided details on how polymer modulators are now being fabricated on standard industry  200mm silicon wafers at a commercial silicon foundry

  • Demonstrated thought leadership with critical contributions to the recently published global "Integrated Photonics System Roadmap - International" (IPSR-I) to accelerate the high-volume commercial manufacturing of high-value integrated photonics over the next decade and beyond.

  • Secured new patent for diamondoid non-linear optical chromophore patent to improve stability and performance of Lightwave's proprietary polymer materials for datacenter applications to address increasing generative AI demand across the internet.

  • Achieved world-class performance of the company's Perkinamine? EO polymer material operating in an optical interconnect link, at 437.1Gbps employing a PAM8 178GBaud signal encoded by a plasmonic Mach Zehnder modulator (MZM).

  • Invited to present the company's latest polymer results at the 2024 International Optical Fiber Conference (OFC) in San Diego, California.

  • As of March 31, 2024, the company had cash and cash equivalents of $31.5 million, enabling the company to finance operations through August 2025.

  • Invited to speak at leading industry and investor conferences internationally, including the 36th Annual ROTH Conference, LD Micro New York Invitational XIV, and the Sequire Puerto Rico Investor Summit

The full text of the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 was filed with the SEC on May 10, 2024 and can be found here.

Management Commentary

"The first quarter of 2024 demonstrated our continued leadership in the photonics industry with world class performance for our technologies and critical contributions to the new global integrated photonics industry roadmap," said Dr. Michael Lebby, Chairman and Chief Executive Officer of Lightwave Logic.  "These accomplishments serve as highlights for ongoing engagement with a wide spectrum of companies to discuss additional licensing agreements for our EO polymer materials, including innovative start-ups, existing OEMs and tier-1 multinational corporations that have optical network systems businesses designed to address emerging applications including generative AI.