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) has announced a significant expansion into the warehousing and distribution sector with a multi-pallet shipment of its Evolve™ Rodent Birth Control product to a major Midwest warehousing and distribution company. The unnamed customer plans to both implement the product in their facilities and distribute it through their network.
This strategic move targets the U.S. warehousing industry, which comprises over 18 billion square feet of industrial and logistics real estate. The company's non-lethal rodent control solution addresses unique challenges in food storage facilities where traditional poisons are often unsuitable due to safety concerns.
SenesTech (NASDAQ: SNES) has announced the expansion of its e-commerce presence by making its Evolve™ Rodent Birth Control product line available on TractorSupply.com. This strategic move adds to SenesTech's existing online retail presence on Amazon, Walmart.com, and DIYpestcontrol.com.
Tractor Supply Company, the largest rural lifestyle retailer in the United States with over 2,200 stores across 49 states, serves farmers, ranchers, homeowners, and outdoor enthusiasts. The company reported that its Amazon store has seen a 27% quarter-over-quarter increase in sales, demonstrating strong growth in the e-commerce segment.
SenesTech (SNES) has announced plans to enter the Indian rodent pest control market through a partnership with SMark, an India-based distributor. The companies have signed a letter of intent to introduce Evolve Rodent Birth Control™, a non-lethal pest control solution, to the Indian market.
The Indian rodent pest control market, valued at over $81 million and growing at 10% annually, presents significant opportunities driven by urbanization, agriculture demand, and public health concerns. The partnership leverages SMark's local expertise and distribution network to navigate regulatory and commercial complexities in India.
Evolve's approach focuses on controlling rodent populations by restricting reproduction, offering an eco-friendly alternative to traditional poisons that aligns with regulatory preferences for sustainable pest control solutions.
SenesTech (NASDAQ: SNES) announces that the City of Baltimore has integrated Evolve™, their rodent birth control product, into the city's pest management programs. Baltimore, recently ranked among America's 'rattiest cities', has placed a substantial initial order for deployment this quarter.
The initiative aims to address rodent overpopulation through a non-lethal approach that targets reproduction in both male and female rodents. Guy Bell, Chief of the Property Management Division at Baltimore City Department of Public Works, supports the strategy of preventing rat breeding. Joel Fruendt, SenesTech's CEO, emphasizes the product's role in addressing urban rodent challenges.
Evolve, designated as 'minimum risk' by the EPA, offers a sustainable alternative to traditional poisons and traps. The deployment will initially focus on high-impact areas to evaluate effectiveness in reducing rodent populations while ensuring environmental and public health safety.
SenesTech (NASDAQ: SNES) announces that Evolve™ Rodent Birth Control will be distributed through Bug Off Pest Control in New York City. Bug Off will market and sell Evolve throughout its network while providing training to pest management professionals in the Greater New York area.
This partnership gains significance as New York City is implementing a rat contraception program, and SenesTech is currently the only manufacturer of EPA-approved rat contraceptive products. Evolve works by reducing rodent fertility rather than using traditional poisons, offering a humane solution to rodent control.
The product's soft bait formulation is highly palatable to rodents and can be easily deployed in various environments including barns, garages, homes, gardens, and sheds.
SenesTech (NASDAQ: SNES) has announced that Joshua M. Moss will join its Board of Directors. Moss is the co-founder, Managing Director, and Portfolio Manager at EAM Global Investors, a boutique investment firm managing approximately $3 billion in non-U.S. and emerging market equities.
With over 20 years of institutional investment management experience, Moss previously worked at Credit Suisse in investment banking and equity research, and held senior roles at Allianz Global Investors. At EAM, he has led the firm's growth from inception, launching International Small Cap and Emerging Markets Small Cap strategies.
Moss holds an MBA in Finance from UCLA Anderson School of Management and a BA in History from UC San Diego. He expressed optimism about SenesTech's growth potential, stating that the company has 'the right team and the right product.'
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.
FAQ
What is the current stock price of Senestech (SNES)?
What is the market cap of Senestech (SNES)?
What is SenesTech, Inc.?
What products does SenesTech offer?
How does ContraPest work?
What are the benefits of using Evolve?
Who are SenesTech’s distribution partners?
Where can I purchase SenesTech products?
What is the financial outlook for SenesTech?
What makes SenesTech's products unique?
Are SenesTech’s products safe for non-target species?
What is SenesTech's mission?
