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Lightwave Logic Inc has completed the expansion of its corporate facility in Englewood, Colorado, adding approximately 10,000 square feet of space for a total of 23,500 square feet. The expanded facility now includes new laboratory and engineering facilities, allowing for commercial device testing and evaluation, laser characterization, SEM analysis, and the expansion of the chemical synthesis production line. This represents a 65% increase in size and will accommodate a total of 33 team members.

The additional space will enable Lightwave Logic to enhance its technical capabilities in producing, evaluating, and improving its electro-optic polymer materials. It will support commercial material supply and license agreements, such as the recent agreement for Perkinamine® chromophore materials used in polymer-based photonic devices and photonic integrated circuits (PICs). The company aims to capitalize on this expansion and strengthen its operational capabilities to further its commercialization efforts.

With cash and equivalents totaling .6 million as of June 30, 2023, Lightwave Logic is well-positioned to drive its growth and innovation initiatives. The company’s Chairman and CEO, Dr. Michael Lebby, expressed enthusiasm about the recent expansion, highlighting the potential benefits for customers and shareholders alike.

Despite the expansion news, Lightwave Logic shares are currently trading lower, down 2.17% at .61 as of the latest update.

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