Press release
Lightwave Logic Provides First Quarter 2023 Corporate Update
ENGLEWOOD, Colo., May 11, 2023 /PRNewswire/ -- Lightwave Logic, Inc. (NASDAQ: LWLG), a technology platform company leveraging its proprietary electro-optic
About this update from Lightwave Logic, Inc.
[{"type":"text","content":"ENGLEWOOD, Colo., May 11, 2023 /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 first quarter ended March 31, 2023.\n\n \n \n \n \n \n \n\n \nFirst Quarter 2023 and Subsequent Company Highlights:\nAs of March 31, 2023, the company's cash and cash equivalents were $26 million, enabling it to finance operations through July 2024.Achieved breakthrough performance metrics with the Company's latest commercial-class EO polymer material at 1310 nanometers (nm), a wavelength popular in hyperscale datacenter applications.Announced groundbreaking low-temperature optical modulator with record performance, paving the way for applications in supercomputers, quantum circuits and advanced computing systems.Presented at leading industry and investor conferences internationally, including the 8th Photonic Integrated Circuits (PIC) International Conference, the 2023 Laser Focus World Executive Forum, the 2023 Photonics Spectra Conference, the 35th Annual ROTH Conference, the Sequire Investor Summit: Puerto Rico, and the Ladenburg Thalmann 2023 Tech Expo.The full text of the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 was filed with the SEC on May 10, 2023 and can be found here.\nManagement Commentary\n\"The first quarter of 2023 was highlighted by breakthrough performance metrics in our latest commercial-class EO polymer material, using a wavelength popular in hyperscale datacenter applications,\" said Dr. Michael Lebby, Chairman and Chief Executive Officer of Lightwave Logic. \"These result metrics at 1310 nanometers (nm) include a significantly higher electro-optic coefficient exceeding 200 pm/V, which allows for very low drive power of 1 volt or less. Other characteristics include optimized chromophore loading, superior low optical loss, excellent temporal stability at 85 Celsius, and extremely high thermal and photo stability. The breakthrough commercial-class EO material is expected to enable ultra-small footprint modulators with at least 100 GHz bandwidth as well as meeting all critical requirements for pluggable transceivers, on-board optics and co-packaging so...