NASDAQ · LWLG

Lightwave Logic, Inc.

Closing price · Nov 13, 2026 $3.21

Latest quarter · ended Sep 30, 2026

Cash got weaker, but sales grew

descriptionFiled Nov 13, 2026
Revenue growthFaster
+28.6%
Quarter ended Dec 31, 2024: −43.4% sales vs. a year beforeQuarter ended Mar 31, 2025: −24.7% sales vs. a year beforeQuarter ended Jun 30, 2025: +32.3% sales vs. a year beforeQuarter ended Sep 30, 2025: +27.3% sales vs. a year beforeQuarter ended Dec 31, 2025: +594.5% sales vs. a year beforeQuarter ended Mar 31, 2026: +27.3% sales vs. a year beforeQuarter ended Jun 30, 2026: +27.9% sales vs. a year beforeQuarter ended Sep 30, 2026: +28.6% sales vs. a year before
Dec '24Sep '26
$37.5K vs. $29.2K a year ago
Gross marginSteady
91.2%
Quarter ended Mar 31, 2025: 91.2% gross margin
Mar '25Mar '25
Cash from operationsWorse
−$5.16M
Quarter ended Dec 31, 2024: −$3.14M cash from operationsQuarter ended Mar 31, 2025: −$3.49M cash from operationsQuarter ended Jun 30, 2025: −$3.77M cash from operationsQuarter ended Sep 30, 2025: −$3.18M cash from operationsQuarter ended Dec 31, 2025: −$3.31M cash from operationsQuarter ended Mar 31, 2026: −$4.06M cash from operationsQuarter ended Jun 30, 2026: −$5.82M cash from operationsQuarter ended Sep 30, 2026: −$5.16M cash from operations
Dec '24Sep '26
vs. −$3.18M a year ago
Share countDiluting
+15.6%
Quarter ended Dec 31, 2024: 124.8M sharesQuarter ended Mar 31, 2025: 125.04M sharesQuarter ended Jun 30, 2025: 129.44M sharesQuarter ended Sep 30, 2025: 133.63M sharesQuarter ended Dec 31, 2025: 148.83M sharesQuarter ended Mar 31, 2026: 154.08M sharesQuarter ended Jun 30, 2026: 154.17M sharesQuarter ended Sep 30, 2026: 154.54M shares
Dec '24Sep '26
154.54M shares vs. 133.63M a year ago

Numbers come from the company's own 10-Q and 10-K reports filed with the SEC. Each bar is one quarter, oldest on the left. The colored bar is the latest. Hover over or tap a bar to see its number.

Smart money pulse

What insiders and funds are doing

Mixed Insiders: as of Nov 13 Funds: as of Jun 30, 2026
−1000+100 +17
  • account_balance
    2 funds bought, 1 sold in the quarter ended Jun 30, 2026, counting funds that hold 500 stocks or fewer and $1M+ of this one. Index funds and banks are left out.
  • info
    12 real insider sales in 12 months. $1.43M in total, not counting planned sales.

−100 means everyone selling, +100 everyone buying. This is data, not advice.

How the Pulse works

Pulse runs from −100 (everyone selling) to +100 (everyone buying). Half comes from insiders: real buyers vs. real sellers in the last 90 days (Form 4). Half comes from funds: funds that bought vs. funds that sold last quarter (13F). 13F is a snapshot of long positions on the last day of the quarter, filed up to 45 days later. It does not show short positions or trades since then.

Who owns it

175 funds report owning LWLG, up from 134

Holdings as of Jun 30, 2026
New78
Added45
Held26
Trimmed26
Sold out37

Last quarter

Who bought and who sold

Apr–Jun 2026
Capstone Capital Management Ltd
New
First Western Trust Bank
−18%
Tuttle Capital Management, LLC
New

Change in shares held from Mar 31 to Jun 30, 2026, biggest holdings first. Only funds that hold 500 stocks or fewer and $1M+ of this one: index funds and banks own almost everything, so their changes say little. Bars stop at ±100%.

Insider trades · last 12 months

Real buys and sales

● Open-market buy● Open-market sale
CEOCFOOther officersDirectorsDecJanFebMarAprMayJunJulAugSepOctNovOption exercise · Dec 31 · 100,805 sh · 5 peopleStock grant · Dec 31 · 307,113 shShares withheld for tax · Dec 31 · $252KShares withheld for tax · Dec 31 · $229KStock grant · Dec 31 · 235,453 shOption exercise · Jan 23 · $34KOption exercise · Jan 27 · $34KStock grant · Feb 2 · 37,995 sh · 5 peopleShares withheld for tax · Mar 12 · $2.09MOption exercise · Mar 30 · $122KOption exercise · Mar 31 · 100,805 sh · 5 peopleOption exercise · Apr 10 · $97.4KGift · Apr 28 · 100,000 shStock grant · Jun 1 · 68,060 sh · 5 peopleStock grant · Jun 1 · 2,500 shStock grant · Jul 24 · 396,694 shShares withheld for tax · Sep 12 · $1.63MStock grant · Oct 26 · 64,724 shOpen-market sale · Dec 31 · $192K · 2 peopleOpen-market sale · Jan 2 · $24.7KOpen-market sale · Jan 27 · $89.1KOpen-market sale · Mar 30 · $182KOpen-market sale · Apr 1 · $226K · 3 peopleOpen-market sale · Apr 6 · $76.7KOpen-market sale · Apr 7 · $423KOpen-market sale · Apr 10 · $207KOpen-market sale · Jun 1 · $3.94K
CEOCFOOther officersDirectorsJunJulAugSepOctNovStock grant · Jun 1 · 68,060 sh · 5 peopleStock grant · Jun 1 · 2,500 shStock grant · Jul 24 · 396,694 shShares withheld for tax · Sep 12 · $1.63MStock grant · Oct 26 · 64,724 shOpen-market sale · Jun 1 · $3.94K

Last 6 months. A wider screen shows 12.

Showing 12 real trades. Hidden: 15 stock grants, 4 tax withholdings, 14 option exercises, 1 gift. Those happen on a schedule and say little about what an insider thinks. Bigger dot means a bigger trade.

Real trades, newest first

Jun 1 Snizhana Quan Principal Financial Officer Open-market sale $3.94K 345 sh at $11.41 Sold 1% of stake
Apr 10 Snizhana Quan Principal Financial Officer Open-market sale $207K 20,000 sh at $10.36 Sold 28% of stake
Apr 7 Siraj El-Ahmadi Director Open-market sale $423K 54,536 sh at $7.76 Sold 36% of stake
Apr 6 Thomas Connelly Director Open-market sale $76.7K 9,000 sh at $8.52 Sold 10% of stake
Apr 1 Ronald Bucchi Director Open-market sale $76.1K 11,000 sh at $6.92 Sold 4% of stake
Apr 1 Laila Partridge Director Open-market sale $75.2K 11,000 sh at $6.84 Sold 12% of stake
Apr 1 Craig Ciesla Director Open-market sale $74.9K 11,000 sh at $6.81 Sold 8% of stake
Mar 30 Snizhana Quan Principal Financial Officer Open-market sale $182K 25,000 sh at $7.27 Sold 33% of stake
Jan 27 Siraj El-Ahmadi Director Open-market sale $89.1K 25,591 sh at $3.48 Sold 17% of stake
Jan 2 Thomas Connelly Director Open-market sale $24.7K 7,600 sh at $3.25 Sold 12% of stake
Show 2 older real trades
Dec 31 Siraj El-Ahmadi Director Open-market sale $155K 49,260 sh at $3.15 Sold 33% of stake
Dec 31 Laila Partridge Director Open-market sale $37.2K 10,000 sh at $3.72 Sold 14% of stake

Showing every filing. Dashed circles are routine: grants, tax withholding, option exercises and planned sales.

Top holders

Biggest funds in LWLG

As of Jun 30, 2026
FundOwnsValueChange
California State Teachers Retirement System1.0%$171MNew
BlackRock, Inc.8.0%$116M+398%
Vanguard Capital Management LLC4.2%$62M+7%
State Street Corp2.9%$42M+161%
Vanguard Portfolio Management LLC2.9%$41.9M+44%

"Owns" is shares reported divided by shares outstanding.

Where this data comes from. Insider trades, fund holdings, activist stakes and company results come from public SEC EDGAR filings (Forms 4, 13F, 13D/13G, 10-Q and 8-K). Congress trades come from the STOCK Act reports members file with the House Clerk and the Senate. Daily closing prices come from post-no-preference/stocks on DoltHub, a community-run database shared under CC BY-SA 4.0; the prices we show stay under that license. They are each day's close, not live or official exchange prices.

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