Lightwave Logic Shares Drop 28% Following Q3 Results and Production Delay
Lightwave Logic (LWLG) experienced a significant premarket decline of 28% following the release of its third-quarter financial results. While the company reported revenue of $38,000—a 31% increase year-over-year—and GAAP earnings per share of -$0.05 which met analyst expectations, the stock was heavily penalized due to news regarding production delays. Operational costs saw a notable rise during the quarter, with R&D expenses climbing to $4.3 million from $2.9 million in the prior year, and general and administrative expenses increasing to $3.7 million from $2.3 million. The combination of rising burn rates and setbacks in production timelines has dampened investor sentiment regarding the company's near-term commercialization path.
Tickers: $LWLG
Topics: earnings financial results r&d expenses revenue growth
Read the full article at Seeking Alpha
Part of the story Montauk Renewables Shares Drop Following Delay of Q3 Earnings Release (3 articles)