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, Inc. (NASDAQ: SNES) reported a 97% increase in revenue for 2020, totaling approximately $282,000, compared to $143,000 in 2019. Key deployments of ContraPest demonstrated significant success in reducing rat populations by 90% at an egg production farm and 99% at an urban site. The California Ecosystems Protection Act now prohibits certain rodenticides, offering a potential $100 million market for ContraPest. Despite a net loss of $(8.4) million, improved operational efficiency and successful fundraising efforts position SenesTech well for future growth.
SenesTech, Inc. (NASDAQ: SNES) has partnered with Liphatech, Inc. to develop a non-liquid formulation of ContraPest®, an innovative pest management product aimed at controlling rat populations through fertility control. This collaboration aims to leverage Liphatech's expertise in soft bait technology and SenesTech's proven formula to create a new product offering. ContraPest has successfully reduced rat populations over five years of deployment, currently available in a liquid form approved by the EPA. The development of a new formulation represents a strategic expansion of SenesTech's pest control solutions.
SenesTech, Inc. (NASDAQ: SNES), a leader in fertility control technologies for pest management, announced its participation at the Lytham Partners Spring 2021 Investor Conference on March 31, 2021, at 12:30 PM ET. A webcast of the presentation will be available on the company's website and archived for later access. The event runs from March 30 to April 1, 2021, with virtual one-on-one meetings available by arrangement. SenesTech aims to revolutionize pest control with its product, ContraPest®, which targets reproduction in rat populations, promoting a non-lethal approach.
SenesTech, Inc. (NASDAQ: SNES) has completed a registered direct offering of 1,975,000 shares of common stock priced at $2.00 each, generating gross proceeds of $3.95 million. The funds will be allocated for working capital and general corporate purposes. H.C. Wainwright & Co. served as the exclusive placement agent for this offering. The shares were made available under a previously effective shelf registration statement filed with the SEC.
SenesTech, Inc. (NASDAQ: SNES) announced successful results from a long-term study of its fertility control product, ContraPest®, in an east coast urban area. The study demonstrated a 94% reduction in rat activity at Site A and a 99% reduction at Site B, with juvenile rat populations declining by 98% and 100%, respectively. The city's integrated pest management program plans to expand the deployment of ContraPest® as part of a comprehensive rodent control strategy. CEO Ken Siegel emphasized the potential for similar applications in urban settings across the U.S.
On March 19, 2021, SenesTech (NASDAQ: SNES) announced a registered direct offering of 1,975,000 shares of common stock at $2.00 per share, aiming for gross proceeds of $3.95 million. The offering is set to close around March 23, 2021, subject to customary conditions. Proceeds will be utilized for working capital and corporate purposes. H.C. Wainwright & Co. is the placement agent for this offering, which follows a Form S-3 registration statement effective since August 24, 2018.
SenesTech, Inc. (NASDAQ: SNES) announced successful agricultural deployments of ContraPest®, demonstrating significant reductions in rat populations in poultry settings. The west coast egg farm experienced a 90% decline in rat activity within 12 months, while an east coast pullet farm saw an 88% improvement in pullet survival and projected savings exceeding $400,000. These results highlight ContraPest's effectiveness and economic benefits, emphasizing its potential applications in various agricultural scenarios.
SenesTech, Inc. (NASDAQ: SNES) will announce its fourth quarter and fiscal year 2020 financial results on March 25, 2021, after market close. The company has scheduled a conference call at 5:00 pm ET on the same day to discuss the results. SenesTech specializes in innovative pest management technologies, particularly through its product ContraPest, which targets rodent reproduction. This product is expected to revolutionize rodent control while promoting safety for non-target species.
SenesTech, Inc. (NASDAQ: SNES) has successfully closed a private placement of 4,388,854 shares of common stock and related warrants, generating approximately $10 million in gross proceeds. The shares were sold at $2.2785 each, with warrants priced at $2.216 per share. The funds raised will be allocated for general corporate purposes. The offering was conducted without a public offering and the securities have not been registered under the Securities Act, requiring an initial registration statement to be filed for resale.
SenesTech, Inc. (NASDAQ: SNES) has entered into securities purchase agreements to raise approximately $10 million through a private placement of 4,388,854 shares of common stock and warrants for an additional 2,194,427 shares. The purchase price is set at $2.2785 per share. The transaction is expected to close around January 29, 2021. The proceeds will be used for general corporate purposes, and the company must file a registration statement with the SEC within five days. H.C. Wainwright & Co., LLC was the exclusive placement agent for the offering.
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