Lightwave Logic Reaffirms Commercialization Timeline Presented at the 2024 Annual Shareholder Meeting
Lightwave Logic (NASDAQ: LWLG) reaffirmed the commercialization timeline for its proprietary Perkinamine® electro-optic (EO) polymers presented at its Annual Shareholder Meeting on May 22, 2024. The EO polymers, known for enabling high-speed data transmission with low power consumption, have garnered increased interest from Tier 1 companies, driven by the demands of AI, machine learning, and cloud services. The company aims to secure material supply licensing agreements throughout 2024, with growth expected in 2025 and beyond. Demonstrations of the technology have attracted interest from over 25 companies. CEO Dr. Michael Lebby expressed confidence in the company’s competitive advantage and near-term commercial agreement goals.
- Reaffirmed commercialization timeline for Perkinamine® electro-optic polymers.
- Increased interest from Tier 1 companies in Perkinamine® materials.
- Technology demonstrations have attracted interest from over 25 companies.
- Focus on securing material supply licensing agreements in 2024 with growth expected in 2025 and beyond.
- High-speed data transmission with low power consumption and small footprint.
- CEO confident in competitive advantage and commercialization prospects.
- No concrete commercial agreements or sales finalized in the announcement.
- Potential risks if material supply licensing agreements do not materialize as expected.
- Dependence on Tier 1 companies’ interest and adoption.
Management Reaffirms Commercialization Pathway with Licensing Perkinamine® Electro-optic
Polymers and Product Sales of High-Speed Modulators
As artificial intelligence, machine learning, and other cloud-based services continue to drive the need for higher speed data transmission, the interest in the inherent wide bandwidth, low power consumption and footprint of Lightwave Logic proprietary Perkinamine® electro-optic (EO) polymers is growing. As a result, the company continues to diligently pursue commercial material supply licensing agreements in 2024 and expects the cadence to grow in 2025 and beyond. The company focus today is on Tier 1 companies who have shown keen interest in our Perkinamine® materials. The company demonstration of world class high speed and low power performance earlier this year has accelerated the industry interest in Lightwave Logic's solution which has grown to over 25 companies to date. An updated presentation from the Annual Shareholder Meeting is available at the company's website (click here).
Dr. Michael Lebby, Chairman and Chief Executive Officer of Lightwave Logic, said: "We remain confident in the inherent competitive advantage of our solution and in our commercialization prospects and pipeline for 2024, and we continue to focus on Tier 1 material supply licensing agreements as well as having our polymer high-speed modulators evaluated by fiber optic communication companies. Our team continues to work tirelessly to realize near-term commercial agreement goals for 2024, 2025, and beyond as part of our ultimate goal to create sustainable, long-term value for our fellow shareholders."
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
Managing Director
MZ Group - MZ North America
949-259-4987
LWLG@mzgroup.us
www.mzgroup.us
View original content to download multimedia:https://www.prnewswire.com/news-releases/lightwave-logic-reaffirms-commercialization-timeline-presented-at-the-2024-annual-shareholder-meeting-302161562.html
SOURCE Lightwave Logic, Inc.
FAQ
What is the focus of Lightwave Logic's commercialization efforts in 2024?
Which companies are showing interest in Lightwave Logic's Perkinamine® materials?
What was reaffirmed at Lightwave Logic's 2024 Annual Shareholder Meeting?
When was Lightwave Logic's Annual Shareholder Meeting held?
How many companies have shown interest in Lightwave Logic's technology?
What advantages do Lightwave Logic's EO polymers offer?
