Lightwave Logic, Inc. (NASDAQ: LWLG) shares moved backwards Friday, as the technology platform company provided a corporate update in conjunction with the filing of its Annual Report for the quarter and year ended December 31, 2023.
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.
The company also 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.
Lightwave was also invited to speak at leading industry and investor conferences internationally.
Said CEO Michael Lebby, "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.”
Lightwave Logic, 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.
LWLG shares gave up 10 cents, or 2.4%, to $4.11.
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