Welcome to our dedicated page for SenesTech news (Ticker: SNES), a resource for investors and traders seeking the latest updates and insights on SenesTech stock.
SenesTech, Inc. (Nasdaq: SNES) is a pioneering biotechnology company based in the United States, specializing in the development of innovative fertility control solutions for managing animal pest populations. SenesTech is dedicated to improving global health through humane pest control methods, reducing the reliance on traditional lethal techniques.
The company’s flagship product, ContraPest®, is the first and only U.S. EPA-registered contraceptive for male and female rats. As a highly palatable liquid, ContraPest disrupts the reproductive cycle of Norway and roof rats, effectively reducing their populations. The product is dispensed inside tamper-resistant bait stations to minimize risks to non-target species and ensure the safety of handlers. ContraPest can be integrated into existing pest management programs or used as a standalone solution.
SenesTech's latest innovation, Evolve™, an EPA-designated minimum-risk contraceptive for rats, showcases the company's commitment to sustainable and humane pest control solutions. Evolve, available in a soft bait format, was launched in early 2024 and has already seen significant market acceptance. Its rapid adoption by distributors and end customers underscores its effectiveness in managing rodent populations by targeting their reproductive capabilities.
The company has expanded its reach by establishing distribution agreements with international partners, such as Agro Technic in Singapore, Evicom in Australia and New Zealand, and Q-chem in The Netherlands. These partnerships are pivotal in introducing SenesTech's fertility control solutions to new markets and enhancing global pest management strategies.
In addition to its product innovations, SenesTech has been recognized for its commercial achievements. The company was recently accepted as a vendor for Ace Hardware, allowing over 4,500 stores to order directly from SenesTech. Furthermore, SenesTech has launched a dedicated online store on Amazon, providing consumers and professionals with easy access to Evolve.
Financially, SenesTech reported record quarterly revenues in early 2024, driven by the rapid adoption of Evolve. The company's strategic initiatives, including the development of a contraceptive product for mice and operational efficiencies, are expected to sustain this growth trajectory.
SenesTech's mission is clear: to promote clean cities, efficient businesses, and happy households by providing humane, effective, and sustainable pest control solutions. For more information, visit SenesTech and ContraPest Store.
SenesTech (NASDAQ: SNES) announced its Q3 2024 financial results, highlighting record revenue and margin performance. The company reported revenues of $1.4 million for the first nine months of 2024, marking a 51% increase compared to the same period in 2023. Gross margin improved to 65% in Q3 2024 from 49% in Q3 2023, with gross profit dollars increasing by 79%. Operating expenses decreased by 12%, and the adjusted EBITDA loss was the smallest in the company's history, reducing cash burn by 21%.
The launch of Evolve Rat and Evolve Mouse products contributed significantly to revenue, with Evolve Rat accounting for 52% of Q3 2024 revenue and Evolve Mouse 17%. The company expanded its presence on e-commerce platforms like Amazon and Walmart.com, and saw a 20% increase in e-commerce sales. Additionally, SenesTech is negotiating a rat contraception pilot program with New York City and expanding internationally with significant orders from Hong Kong and The Netherlands.
SenesTech (Nasdaq: SNES) announces the launch of its Evolve™ rodent birth control products on Walmart Marketplace. Evolve™ Rat and Evolve™ Mouse represent a non-poisonous approach to rodent control through fertility management. The product is a minimum-risk soft bait that's safe for people, pets, wildlife, and the environment when used as directed. Joel Fruendt, President and CEO, emphasizes that continuous usage can lead to significant population reduction within 2-3 months. This expansion comes as states like California increase restrictions on traditional poisons, creating demand for innovative pest control solutions.
SenesTech (NASDAQ: SNES) has announced it will release its third quarter 2024 financial results on Tuesday, November 12, 2024, after market close. The company will host a conference call at 5:00 pm ET the same day to discuss the results. Interested parties can join via phone at (844) 308-3351 or (412) 317-5407, or through a live webcast available on the company's website. A replay will be accessible for seven days by phone and 90 days via webcast on the company's investor relations page.
SenesTech (Nasdaq: SNES) announces the successful registration of Evolve™ in Hong Kong, introducing a non-lethal rodent birth control solution. The product, distributed exclusively by Fruit Tree , offers an eco-friendly alternative to traditional pest control methods, having earned the 'minimum risk' designation from the U.S. EPA. Evolve™ can reduce fertility in rodent populations by up to 90% when integrated into pest management programs. This development comes as Hong Kong faces a significant rodent problem, with an estimated population of 2.5 million rats and a 39% increase in live rodent captures last year.
SenesTech, Inc. (Nasdaq: SNES), the leader in rodent birth control, announces that the New York City Council has approved a bill to implement a rat contraception pilot program. The bill, Int. No. 736-A, requires the Department of Health and Mental Hygiene (DOHMH) to launch the program within 180 days, in collaboration with the Department of Sanitation (DSNY) and a rodent control expert.
The program will run for at least 12 months in two rat mitigation zones and a comparable area, focusing on residential buildings with waste in containers. SenesTech is currently the only manufacturer of EPA-approved rat contraceptives. The company's President and CEO, Joel Fruendt, expressed readiness to support New York City's pilot program with their product lines ContraPest® and Evolve™.
SenesTech, Inc. (NASDAQ: SNES), the rodent fertility control experts, announced its participation in the Lytham Partners Fall 2024 Investor Conference on October 1, 2024. The company, known for inventing the only EPA registered contraceptive for male and female rats, will engage in two key activities:
1. A webcasted presentation at 11:00am ET, accessible via the conference homepage or a direct link. The webcast will be available for replay after the event.
2. Virtual one-on-one meetings with investors throughout the event. Interested parties can arrange meetings through Lytham Partners or by registering on the event website.
This virtual conference provides SenesTech an opportunity to showcase its innovative rodent fertility control solutions to potential investors and industry professionals.
SenesTech (NASDAQ: SNES), the rodent fertility control experts, announced the closing of a warrant exercise, raising $2.3 million in gross proceeds. Existing warrants were exercised to purchase 505,502 shares at a reduced price of $4.60 per share. The company also issued new unregistered warrants for 1,011,004 shares at $4.35 per share. H.C. Wainwright acted as the exclusive placement agent.
The funds will be used for working capital and general corporate purposes, supporting the rollout of SenesTech's Evolve® product line. CEO Joel Fruendt stated that this financing will enable the execution of their plans. The new warrants have not been registered under the Securities Act of 1933 and are subject to certain restrictions.
SenesTech (NASDAQ: SNES) reported record financial results for Q2 2024. Key highlights include:
- Record revenues of $874,000 in H1 2024, up 62% year-over-year
- Q2 2024 revenue of $459,000, a 50% increase from Q2 2023
- Gross margin improved to 54% in Q2 2024, reaching 67% in June
- Smallest quarterly adjusted EBITDA loss in company history
- Evolve™ product line contributed ~60% of YTD revenue
- Expanded distribution through key online retailers and pest management distributors
- Launched Evolve Mouse in May 2024
- Implemented growth initiatives expected to drive H2 performance
The company is progressing towards profitability with reduced cash burn and improved operational metrics.
SenesTech (NASDAQ: SNES) has announced it will release its second quarter 2024 financial results on Thursday, August 8, 2024, after market close. The company has scheduled a conference call for the same day at 5:00 pm ET to review the results. Interested parties can access the call by dialing (844) 308-3351 or (412) 317-5407. A live webcast will be available on the company's website. For those unable to attend, a teleconference replay will be available for seven days, and a webcast replay will be accessible for 90 days in the Investor Relations section of SenesTech's website.
SenesTech (NASDAQ: SNES) has announced a 1-for-10 reverse stock split effective July 24, 2024, at 4:01 p.m. Eastern Time. The company's common stock will continue trading on the Nasdaq Capital Market under the symbol 'SNES' and will begin trading on a split-adjusted basis on July 25, 2024. This decision follows stockholder approval at the annual meeting on July 11, 2024.
The reverse split will reduce SenesTech's issued common stock from 5,144,632 shares to approximately 514,464 shares. Stockholders' percentage interest in the company will remain unchanged, except for minor adjustments due to fractional shares. Proportional adjustments will be made to equity awards and warrants.
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