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) 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.
SenesTech, Inc. (NASDAQ: SNES) reported a 114% increase in sales for Q3 2020, totaling $77,000 compared to $36,000 in Q3 2019. The company is poised to benefit from the California Ecosystems Protection Act of 2020 (AB 1788), effective January 1, 2021, which prohibits certain anticoagulant rodenticides, expanding the market opportunity for alternative solutions like ContraPest, estimated at $100 million annually. Despite a net loss of $(1.9) million, improved cash flow is noted with approximately $5.3 million in cash at quarter-end.
SenesTech, Inc. (NASDAQ: SNES) announced the election of three new directors to its Board to bolster support for the commercial growth of ContraPest®, its lead fertility control product. Phil Grandinetti, K.C. Kavanagh, and Jake Leach bring diverse skills in consumer products, communications, and technology, respectively. The transition includes Dr. Julie Williams stepping down but remaining as Director Emeritus. SenesTech aims to redefine pest management by targeting reproduction in pest populations, reducing reliance on traditional lethal methods.
SenesTech, Inc. (NASDAQ: SNES) will announce its third quarter 2020 financial results on November 11, 2020. The announcement will follow the market close, accompanied by a conference call at 5:00 pm ET. The company focuses on innovative pest management solutions through fertility control, particularly its product ContraPest, aimed at reducing rat populations. This method targets the reproductive capabilities of rats, presenting a non-lethal alternative to traditional pest control.
SenesTech, Inc. (NASDAQ: SNES) announced that California's AB1788, signed by Governor Gavin Newsom, will become law on January 1, 2021. This law prohibits the use of certain Second Generation Anticoagulant Rodenticides (SGARs) in many contexts. As pest management professionals adapt to these changes, SenesTech's ContraPest fertility control technology is positioned to replace SGARs, showing effectiveness in reducing rodent populations by 60% to 90%. SenesTech plans to enhance awareness and adoption of ContraPest in California's pest management market, a sector valued at approximately $100 million annually.
SenesTech (NASDAQ: SNES) announced that ContraPest® has been added to San Francisco's Reduced Risk Pesticide List, allowing for its broader use in the city. This addition signifies a pivotal step in pest management, as ContraPest targets rat populations through fertility control, showcasing effectiveness and environmental safety. The city's ongoing efforts align with California's move away from harmful rodenticides, with ContraPest touted as a critical component of integrated pest management (IPM) strategies. Successful trials in San Francisco parks suggest an imminent expansion of ContraPest's usage.
SenesTech, Inc. (NASDAQ: SNES) will participate in the Lytham Partners Virtual Investor Growth Conference on October 7, 2020, at 12:00pm ET. The conference will feature a presentation and fireside chat, followed by virtual one-on-one meetings with management. SenesTech focuses on innovative pest management through its product, ContraPest®, aimed at controlling rat populations non-lethally. The webcast will be available on SenesTech's investor relations website, with a replay accessible post-event.
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