Lightwave Logic, Inc.
For the period ended Jun 30, 2025. Filed Aug 14, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 14, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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STATEMENTS OF COMPREHENSIVE LOSS
| Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | |
|---|---|---|---|---|
| June 30, 2025 | June 30, 2024 | June 30, 2025 | June 30, 2024 | |
| NET SALES | $25,605 | $19,355 | $48,522 | $49,772 |
| COST AND EXPENSE | ||||
| Cost of sales | 3,463 | — | 5,491 | 5,175 |
| Research and development | 2,641,941 | 4,362,258 | 5,731,159 | 8,982,920 |
| General and administrative | 2,985,883 | 1,896,672 | 4,822,935 | 3,152,122 |
| TOTAL COST AND EXPENSE | 5,631,287 | 6,258,930 | 10,559,585 | 12,140,217 |
| LOSS FROM OPERATIONS | (5,605,682) | (6,239,575) | (10,511,063) | (12,090,445) |
| OTHER INCOME (EXPENSE) | ||||
| Interest income | 168,253 | 251,730 | 356,101 | 505,066 |
| Commitment fee | (235,801) | (28,982) | (243,830) | (105,959) |
| Gain (loss) on disposal of property and equipment | — | — | 28,800 | (3,166) |
| Other income (expense) | 1,098 | (2,857) | 836 | (5,091) |
| NET LOSS | $(5,672,132) | $(6,019,684) | $(10,369,156) | $(11,699,595) |
| LOSS PER SHARE | ||||
| Basic and diluted | $(0.05) | $(0.05) | $(0.08) | $(0.10) |
| WEIGHTED AVERAGE NUMBER OF SHARES | ||||
| Basic and diluted (1) | 125,271,407 | 120,179,570 | 124,605,324 | 119,552,430 |
| (1) | For the three and six months ended June 30, 2025, the Company excluded from the calculation of diluted loss per share 668,844 and 1,012,128, shares, respectively, potentially issuable for exercises of options and warrants under incentive compensation plans, as their effect, if included, would have been anti-dilutive due to the Company's net loss position. For the three and six months ended June 30, 2024, the Company excluded from the calculation of diluted loss per share 4,160,711 and 4,265,583 shares, respectively, potentially issuable for exercises of options and warrants under incentive compensation plans, as their effect, if included, would have been anti-dilutive due to the Company's net loss position. |
The calculation of diluted loss per common share also excludes non-vested restricted stock units and earned performance stock units that are anti-dilutive based upon the terms of the awards. Such shares were 363,637 and 182,823 for the three and six months ended June 30, 2025, respectively, and zero for the three and six months ended June 30, 2024.
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