Dr. Michael
Lebby to Host Fireside Chat with Benzinga All-Access Hosts
at 10:50 a.m. Eastern time
Today
ENGLEWOOD, Colo., March 1,
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 Annual Report on Form
10-K for the quarter and year ended December
31, 2023.
Fourth Quarter 2023 and Subsequent Company
Highlights:
- Hosted meetings with a variety of companies to discuss
licensing agreements for the Company's 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.
- As of December 31, 2023, the
company had cash and cash equivalents of $31.4 million, enabling the company to finance
operations through July 2025.
- Received the 2023 Industry Award for Most Innovative Hybrid
PIC/Optical Integration Platform from the European Conference on
Optical Communications (ECOC) - a premier industry exhibition.
- Invited to speak at leading industry and investor conferences
internationally, including the Optica Photonic-Enabled Cloud
Computing Industry Summit, ROTH MKM 12th Annual New York Technology
Conference, ROTH MKM 12th Annual Deer Valley Conference, and the
Sequire Puerto Rico Investor Summit.
The full text of the company's Annual Report on Form 10-K for
the year ended December 31, 2023 was
filed with the SEC on February 29,
2024 and can be found here.
Management Commentary
"The fourth quarter of 2023 was highlighted by ongoing interest
in licensing our technologies, driven by our first commercial
material supply license agreement announced in May," said Dr.
Michael Lebby, Chairman and Chief
Executive Officer of Lightwave Logic. "This initial licensing
agreement demonstrated tangible commercial progress and market
acceptance of our EO polymer materials. As we continue to engage
with a wide spectrum of companies – including multinational tier-1
corporations – our first licensing agreement has served as a good
commercial template to discuss the potential for additional
committed, multi-year agreements.
"Although closing agreements are a long and deliberate process,
we are encouraged by these positive discussions and momentum from
potential customers for our innovative device platform and
licensing our technologies. In our conversations with potential
customers, the biggest points are not performance related. They
know our polymers are fast, low power and in a smaller footprint.
They are asking to see more reliability data and the ability to
produce at scale, as well as to ensure that we can sustain a
long-term partnership.
"To that end, we continue to provide more reliability data and
have accelerated this with our facilities expansion in 2023. We are
actively working with foundries that supply 200mm silicon wafers so
that we can showcase the ability to scale in volume. Given our
robust cash position with no debts – we believe that we are well
positioned to serve as a value-added partner and will continue to
grow increasingly strong in the quarters and years to come.
"Underlying this momentum is the fact that our technology
continues to be recognized for driving innovative change in our
industry, most recently with the 2023 Industry Award for Most
Innovative Hybrid PIC/Optical Integration Platform from the
European Conference on Optical Communications (ECOC). With our
commercialization underway, awards such as this further validate
our technology and provide industry confirmation of the inherent
benefits of our platform. Our ability to evangelize the benefits of
platform at leading industry events globally has been an important
part of our awareness efforts. At the Optica Photonic-Enabled Cloud
Computing Industry Summit I was privileged to present how
electro-optic polymers can serve as a core enabling technology in
the future of cloud computing, and ultimately, become a ubiquitous
part of the internet itself.
"Our efforts in 2023 to expand our new laboratory production
facilities and add key team members has positioned us for
anticipated growth in 2024. Supporting these efforts, we continue
to fortify our intellectual property with new patent issuances and
patent applications. We are encouraged by the constructive meetings
we are having with industry leaders, and believe they are
positioning us to capitalize on our momentum with additional
licensees as we continue to build the excitement around our
technology, which we believe has the potential to deliver
sustainable value for our shareholders over the long-term,"
concluded Lebby.
Benzinga All-Access Interview
Dr. Michael Lebby, Chairman and
Chief Executive Officer of Lightwave Logic, will host a fireside
chat at 10:50 a.m. Eastern time today
with the hosts of the Benzinga All-Access show to discuss the
Company's fourth quarter and fiscal 2023 corporate updates, recent
milestone achievements and potential near-term catalysts. To watch
the interview, please refer to the access information below.
Benzinga All-Access Show
Date: Friday, March 1, 2024
Presentation Time: 10:50 a.m.
Eastern time Webcast:
https://www.youtube.com/watch?v=QzMrtjrwrJI
An audio webcast and an archived replay will be available using
the webcast link above.
About Lightwave Logic, Inc.
Lightwave Logic, Inc. (NASDAQ: LWLG) develops a platform
leveraging its proprietary engineered electro-optic (EO) polymers
to transmit data at higher speeds with less power in a small form
factor. 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 www.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 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.