$LWLG

Lightwave Logic, Inc.

CIK:0001325964|SEC Filings

STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED) - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
NET SALES	$ 32,751	$ 25,605	$ 61,918	$ 48,522
COST AND EXPENSE
Cost of sales		3,463	1,336	5,491
Research and development	3,878,703	2,621,441	7,368,998	5,710,659
General and administrative	3,423,188	2,300,884	6,686,054	4,137,936
TOTAL COST AND EXPENSE	7,301,891	4,925,788	14,056,388	9,854,086
LOSS FROM OPERATIONS	(7,269,140)	(4,900,183)	(13,994,470)	(9,805,564)
OTHER INCOME (EXPENSE)
Interest income and interest amortization on marketable securities	652,071	168,253	1,113,346	356,101
Commitment fee		(235,801)		(243,830)
Gain (loss) on disposal of property and equipment and intangible assets	(5,270)		(41,679)	28,800
Other income	8,542	1,098	8,466	836
NET LOSS	(6,613,797)	(4,966,633)	(12,914,337)	(9,663,657)
OTHER COMPREHENSIVE INCOME (LOSS)
Net unrealized holding loss on available-for-sale debt securities	(48,901)		(48,901)
COMPREHENSIVE LOSS	$ (6,662,698)	$ (4,966,633)	$ (12,963,238)	$ (9,663,657)
LOSS PER SHARE
Earnings Per Share, Basic	$ (0.04)	$ (0.04)	$ (0.09)	$ (0.08)
Earnings Per Share, Diluted	$ (0.04)	$ (0.04)	$ (0.09)	$ (0.08)
WEIGHTED AVERAGE NUMBER OF SHARES
Weighted Average Number of Shares Outstanding, Basic	153,479,343	125,271,407	150,797,655	124,605,324
Weighted Average Number of Shares Outstanding, Diluted	153,479,343	125,271,407	150,797,655	124,605,324

STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (12,914,337)	$ (9,663,657)
Adjustments to reconcile net loss to net cash used in operating activities
Stock options issued for services	950,449	1,282,692
Amortization of deferred compensation	182,219	401,863
Performance stock units issued for services		384,925
Restricted stock units issued for services	2,371,949	11,113
Common stock issued for commitment shares		243,830
Depreciation and amortization of patents	987,257	943,089
Amortization of right of use asset	108,140	100,938
Accretion of interest on marketable securities	(33,726)
(Gain) loss on disposal of property and equipment and intangible assets	41,679	(28,800)
(Increase) decrease in assets
Accounts receivable	174,624	34,812
Prepaid expenses and other current assets	(1,547,998)	(237,115)
(Decrease) increase in liabilities
Accounts payable	(32,542)	(195,411)
Accrued bonuses, accrued expenses and other liabilities	(112,569)	(394,875)
Accounts payable and accrued expenses-related parties	(56,250)	(53,359)
Contract liability	93,459	(8,333)
Operating lease liability	(94,891)	(81,934)
Net cash used in operating activities	(9,882,537)	(7,260,222)
CASH FLOWS FROM INVESTING ACTIVITIES
Cost of intangibles	(245,398)	(108,332)
Purchase of property and equipment	(1,518,336)	(893,894)
Purchases of marketable securities	(48,714,585)
Net cash used in investing activities	(50,478,319)	(1,002,226)
CASH FLOWS FROM FINANCING ACTIVITIES
Exercise of options and warrants	8,309,618	204,000
Cashless option exercise tax payments		(171,926)
Cashless tax payment on vested restricted stock awards		(12,875)
Tax payment on net issuance of vested restricted stock units	(2,088,366)
Tax payment on net issuance of performance stock units	(481,103)
Issuance of common stock, institutional investor		2,174,983
Issuance of common stock to investment bank	4,930,928
Common stock sales at the market by investment banking company	27,883,977	507,248
Net cash provided by financing activities	38,555,054	2,701,430
Effect of fair value changes on cash equivalents	(2,404)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(21,808,206)	(5,561,018)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	69,017,354	27,667,964
CASH AND CASH EQUIVALENTS - END OF PERIOD	47,209,148	22,106,946
Supplemental Disclosure of Non-cash activities:
Options issued to settle accrued bonuses		48,068
Trade-in credit for purchase of property and equipment		28,800
Non-cash repurchase of shares issued for net option exercise		172,359
Restricted stock awards issued for services		$ 169,846

BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS
Cash and cash equivalents	$ 47,209,148	$ 69,017,354
Marketable securities	48,701,814
Accounts receivable	16,129	190,753
Prepaid expenses and other current assets	2,149,099	601,101
TOTAL CURRENT ASSETS	98,076,190	69,809,208
PROPERTY AND EQUIPMENT - net of accumulated depreciation of $8,749,364 and $7,802,183, respectively	5,791,113	5,222,252
OTHER ASSETS
Intangible assets - net of accumulated amortization of $417,462 and $473,771, respectively	1,879,357	1,713,420
Operating lease - right of use asset	2,332,229	2,440,369
TOTAL OTHER ASSETS	4,211,586	4,153,789
TOTAL ASSETS	108,078,889	79,185,249
CURRENT LIABILITIES
Accounts payable	445,397	477,939
Accrued bonuses and accrued expenses	806,337	1,400,008
Accounts payable and accrued expenses - related parties		56,250
Contract liability	100,000	6,541
Current operating lease liability	209,057	194,770
TOTAL CURRENT LIABILITIES	1,560,791	2,135,508
LONG TERM LIABILITIES
Long-term operating lease liability	2,294,732	2,403,911
TOTAL LONG TERM LIABILITIES	2,294,732	2,403,911
TOTAL LIABILITIES	3,855,523	4,539,419
STOCKHOLDERS' EQUITY
Preferred stock, $0.001 par value, 1,000,000 authorized, no shares issued or outstanding
Common stock $0.001 par value, 250,000,000 authorized, 154,166,422 and 146,050,506 issued and outstanding, respectively	154,167	146,051
Additional paid-in-capital	284,458,018	242,016,025
Deferred compensation	(112,793)	(203,458)
Accumulated deficit	(180,227,125)	(167,312,788)
Accumulated other comprehensive loss	(48,901)
TOTAL STOCKHOLDERS' EQUITY	104,223,366	74,645,830
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 108,078,889	$ 79,185,249