Lightwave Logic, Inc.

LWLG: Is Lightwave Logic, Inc. Halal?

Lightwave Logic, Inc.

NASDAQBasic MaterialsUS

$12.72

+15.43%

Market Cap: 2.0B

Compliance Status

Not Halal

Screened on Jul 15, 2026 · AAOIFI Standard 21

F

Non-Compliant

0Score

Is Lightwave Logic, Inc. (LWLG) halal? Not Halal. Based on AAOIFI screening, Lightwave Logic, Inc. passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

Business activity

What the company sells is permissible.

Passed

Company debt

Well clear of the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

0.2% of 30.0% limit

What this means for you

Most scholars advise not holding LWLG

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About Lightwave Logic, Inc.

Lightwave Logic, Inc., a development stage company, focuses on the development of photonic devices and non-linear optical polymer materials systems for fiber-optic data communications and optical computing markets in the United States. The company is involved in designing and synthesizing organic chromophores for use in its electro-optic polymer systems and photonic device designs. It also offers electro-optic modulators, which converts data from electric signals to optical signals for transmission over fiber-optic cables; and polymer photonic integrated circuits, a photonic device, which integrates various photonic functions on a single chip. In addition, the company provides the ridge waveguide modulator, a modulator that fabricates the waveguide within a layer of its electro-optic polymer system. It focuses on selling its products to electro-optic device manufacturers, such as telecommunications component and systems manufacturers, networking and switching suppliers, semiconductor companies, Web 2.0 media, computing companies, aerospace companies, and government agencies. The company was formerly known as Third-order Nanotechnologies, Inc. and changed its name to Lightwave Logic, Inc. in March 2008. Lightwave Logic, Inc. was founded in 1991 and is headquartered in Englewood, Colorado.

Sector: Basic Materials · Industry: Chemicals - Specialty

Shariah Compliance Status

AAOIFI Standard 21Updated Jul 15, 2026

Compliance History

Not Halal, unchanged since May 2026.

No status changes recorded since we began tracking.

Tracked since May 2026. Updates automatically on each re-screen.

Fiscal: Q1 2026Data source: EDGAR

Halal Alternatives in Basic Materials

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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NWPX Infrastructure, Inc.

$120.30

-0.24%

Critical Metals Corp.
CRMLA+

Critical Metals Corp.

$10.15

+0.79%

Gold Royalty Corp.
GROYA+

Gold Royalty Corp.

$3.22

-1.44%

Idaho Strategic Resources, Inc.
IDRA+

Idaho Strategic Resources, Inc.

$35.44

-1.80%

Hecla Mining Company
HLA+

Hecla Mining Company

$15.40

-0.90%

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Frequently Asked Questions

Is Lightwave Logic, Inc. (LWLG) halal to invest in?
Lightwave Logic, Inc. (LWLG) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.
Why did Lightwave Logic, Inc. get a F compliance rating?
Lightwave Logic, Inc. (LWLG) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 0.2% (limit 30%); interest-bearing deposits of 6.6% (limit 30%); prohibited income of 819.69% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.
What could change Lightwave Logic, Inc.'s Shariah verdict?
Lightwave Logic, Inc.'s verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.
How often is Lightwave Logic, Inc. re-screened for Shariah compliance?
Lightwave Logic, Inc. (LWLG) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jul 15, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.