Lightwave Logic Provides Third Quarter 2020 Corporate Update
Nov 10, 2020, 08:31 ET
ENGLEWOOD, Colo., Nov. 10, 2020 /PRNewswire/ -- Lightwave Logic, Inc. (OTCQB: LWLG), a technology platform company leveraging its proprietary electro-optic 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, 2020.
Recent Company Highlights:
- Announced technological breakthrough in its proprietary polymer technology, enabling compatibility with existing industry standard integrated photonics platforms, a direct result of feedback received from the Company's potential customers under NDA.
- Fortified intellectual property portfolio through receipt of patent grant on a highly promising advancement, developed by the Company's in-house technical team, which allows for the Company's modulators to improve performance across the board, enabling higher reliability in the fiber optics communications environment.
- Announced optimization of the Company's advanced, photo-stable, ultra-high-speed polymer for high-intensity light applications to be trialed with potential customers under NDA for use in telecommunications and data center end-markets.
- Appointed Dr. Franky So, a leading authority in polymer-based OLEDs, to the Company's advisory board to enhance Lightwave's product positioning and promotion efforts.
- Chief Executive Officer Dr. Michael Lebby continued to build critical pre-commercial thought leadership at key virtual industry events, including the AngelTech Live II Summit, the ECOC Exhibition 2020 and the EPIC Online Technology Meeting on Datacenter Interconnects.
The full text of the Company's Quarterly Report on Form 10-Q for the second quarter ended September 30, 2020 was filed with the SEC on November 9th, 2020 and can be found here.
Management Commentary
"We continue to make sustained progress towards the refinement of our proprietary electro-optic polymers, best aligning with the needs of our potential customers evaluating our technology under NDA," said Dr. Michael Lebby, Chief Executive Officer of Lightwave Logic. "Our focus on materials innovation continues to pay dividends as we move incrementally closer to our long-term goal of mass commercialization, having recently announced several exciting technical breakthroughs and exciting new patent wins.
"Our potential customers under NDA have found our technology to be fascinating and the continued improvements that our in-house technical team have been able to achieve. Our electro-optic polymers are easier to integrate into existing systems than ever while maintaining a world-class level of performance.
"We will continue to drive forward our business in the fourth quarter and into 2021, achieving several additional key milestones in our internal roadmap. With a fortified balance sheet and intellectual property portfolio, this is an exciting time for Lightwave Logic - I believe we are better positioned to create sustainable value for our shareholders than at any prior time in the Company's history," concluded Lebby.
About Lightwave Logic, Inc.
Lightwave Logic, Inc. (OTCQB: 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 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 Form 10-Q; other risks to which our Company is subject; other factors beyond the Company's control.
Investor Relations Contact:
Greg Falesnik or Luke Zimmerman
MZ Group - MZ North America
949-385-6449
[email protected]
www.mzgroup.us
SOURCE Lightwave Logic, Inc.
