Lightwave Logic Strengthens Board with Industry Veterans, Including Former DuPont Executive

Lightwave Logic expands board with industry veterans By Investing.com

ENGLEWOOD, Colo. - Lightwave Logic, Inc. (NASDAQ: LWLG), a developer of advanced electro-optic polymers for data transmission, has appointed Thomas M. Connelly, Jr., former DuPont (NYSE:DD) executive and CEO of the American Chemical Society, to its Board of Directors, effective Monday. This move comes as part of the company's strategy to broaden its market reach beyond data centers and AI clusters to sectors like aerospace, defense, and quantum computing. Connelly brings over three decades of experience in chemicals and materials, having held roles at DuPont including Chief Innovation Officer and Chief Science and Technology Officer. His expertise is expected to enhance Lightwave Logic's strategic industrial partnerships and commercial initiatives for its electro-optic polymer technology platform. Connelly's appointment follows the addition of Yves LeMaitre, an optical network and datacenter optics executive, to the board in August. Dr. Michael Lebby, Chairman and CEO of Lightwave Logic, expressed his confidence in the new board members, highlighting their industry knowledge and experience as valuable assets for the company's expansion efforts. Connelly's qualifications include degrees in chemical engineering and economics from Princeton University, a PhD from the University of Cambridge as a Winston Churchill Scholar, and advisory roles to the U.S. government and Republic of Singapore. Lightwave Logic's technology focuses on using organic polymers to create photonic electro-optic devices that convert electrical signals into optical signals, aiming for higher data transmission speeds with reduced power consumption and smaller form factors. This announcement is based on a press release statement and contains forward-looking statements subject to risks and uncertainties that could affect the company's actual results. In other recent news, Lightwave Logic, a developer of advanced photonic devices, has announced significant developments. The company has registered with the Securities and Exchange Commission (SEC) for the issuance of common stock under two separate agreements, a move that could potentially facilitate capital raising. In addition, Lightwave Logic has appointed Yves LeMaitre, a seasoned professional with over three decades of experience in the photonics and global information technology sectors, to its Board of Directors. On the technological front, the company has achieved a record-breaking low drive voltage below 1V at 200Gbps PAM4 in collaboration with Advanced Micro Foundry (AMF). This is expected to enhance optical connectivity for AI computing clusters and foster the development of 800Gbps and 1.6T pluggable transceivers. Lightwave Logic's Perkinamine® EO polymer material also demonstrated world-class performance of 437.1Gbps using a PAM8 178GBaud signal through a plasmonic Mach Zehnder modulator. From a financial standpoint, Lightwave Logic reported cash and cash equivalents of $31.5 million as of March 31, 2024, which is anticipated to fund operations through August 2025. These recent developments have positioned the company favorably for future partnerships and scaling up production. As Lightwave Logic, Inc. (NASDAQ: LWLG) continues to advance its position in the high-speed data transmission arena, the company's financial metrics offer a glimpse into its market standing and future potential. With a market capitalization of approximately $313.86 million, Lightwave Logic is positioning itself as a niche player in the electro-optic polymers industry. Despite a challenging environment, the company boasts an impressive gross profit margin of 91.48% for the last twelve months as of Q2 2024, underscoring the efficiency of its operations and the potential value of its technology. One of the key InvestingPro Tips that stands out for Lightwave Logic is its strong liquidity position, with liquid assets surpassing short-term obligations. This financial stability is crucial as the company aims to expand into new markets like aerospace, defense, and quantum computing. Additionally, the company's stock price has experienced significant volatility, reflecting a dynamic market perception and investor sentiment. Investors should also note that Lightwave Logic is trading at a high price-to-book multiple of 8.81, which may suggest a premium valuation compared to its tangible assets. This could be indicative of the market's expectations for future growth and the proprietary nature of its electro-optic polymer technology. For those interested in a deeper dive into Lightwave Logic's financial health and market position, InvestingPro offers additional tips, including insights into sales trends and profitability. Currently, there are 13 more InvestingPro Tips available for Lightwave Logic, which can be accessed for further detailed analysis. It is also worth mentioning that Lightwave Logic's stock has taken a considerable hit over the last six months, with a price total return of -38.82%. This performance may attract investors looking for potential turnaround opportunities or those willing to invest in companies with long-term growth prospects despite short-term market fluctuations. For investors looking to stay ahead of the curve in the fast-evolving field of data transmission technology, keeping an eye on Lightwave Logic's strategic board appointments and financial metrics could provide valuable insights. The addition of industry veterans like Thomas M. Connelly, Jr. to the board could further enhance the company's ability to navigate market challenges and capitalize on emerging opportunities.

LIGHTWAVE LOGIC APPOINTS FORMER DUPONT EXECUTIVE THOMAS CONNELLY, JR. TO BOARD OF DIRECTORS - Lightwave Logic (NASDAQ:LWLG)

Company Continues to Deepen its Optical Polymer Capabilities and Commercial Expertise to Open New Markets for its Advanced Materials Board Additions of Chemicals and Materials Leader Tom Connelly and Optical Network and AI/Datacenter Optics Executive Yves LeMaitre in August Advances Company Goal of Establishing its Presence in Multiple Verticals ENGLEWOOD, Colo., Sept. 9, 2024 /PRNewswire/ -- Lightwave Logic, Inc. 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, announced today that its Board of Directors has appointed former DuPont executive and CEO of the American Chemical Society (ACS) Thomas M. Connelly, Jr., as its newest Board member, effective September 4, 2024. With the addition to the Board of these two industry experts from the company's target markets, Lightwave Logic believes it is well-positioned to expand its initial business focus from datacenters and AI clusters connectivity to include other high growth markets, such as materials, organics, quantum/optical computing, aerospace, defense, and storage. Tom Connelly, Jr. has served as CEO of the American Chemical Society, one of the largest scientific societies with 170,000 members worldwide, and as Chief Innovation Officer of DuPont, where he was a member of its Office of the Chief Executive. Among his responsibilities in chemicals and materials over 35+ years at DuPont were its Performance Polymers and Packaging & Industrial Polymers businesses. He also served as its Chief Science and Technology Officer, with responsibility across business units in the U.S., Europe and Asia. He joined DuPont in 1977, and played key roles in Delrin®, Kevlar®, Sorona® and Teflon®. Dr. Connelly said, "I am delighted to join Lightwave Logic's board at such a transformational time for the Company and the silicon photonics ecosystem. I look forward to working with the management team and the other Board members to guide the Company as it ramps up efforts for strategic industrial partnerships and initiatives for its polymer technology platform to be a commercial success." Dr. Michael Lebby, Chairman and Chief Executive Officer of Lightwave Logic, added: "We are honored that Tom Connelly has joined our board. His exceptional industry knowledge and deep experience in the polymers business will be an outstanding resource to the Lightwave Logic management team. He is uniquely qualified to help us as we expand our business focus for our EO polymer platform. Tom and Yves LeMaitre, who joined the board in August, each bring tremendous backgrounds to the Board's collective experience and skillsets, adding expertise in photonics and optical communications for selling innovative connectivity solutions to hyperscalers for front-end Ethernet and back-end AI/machine learning clusters." Dr. Connelly holds degrees in chemical engineering (highest honors) and economics from Princeton University, and as a Winston Churchill Scholar he received a PhD in chemical engineering from the University of Cambridge. As a member of the National Academy of Engineering and its committees, he has been chair of the National Academies of Sciences, Engineering, and Medicine's committee for the Division on Earth and Life Studies. In addition, he has held advisory roles to the U.S. government and Republic of Singapore. About Lightwave Logic, Inc. Lightwave Logic, Inc. 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. 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 949-259-4987 [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/lightwave-logic-appoints-former-dupont-executive-thomas-connelly-jr-to-board-of-directors-302241403.html SOURCE Lightwave Logic, Inc. Market News and Data brought to you by Benzinga APIs