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), 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.
SenesTech (Nasdaq: SNES), a leader in fertility control for managing animal pest populations, announced the deployment of its Evolve™ fertility control solution in the U.S. Virgin Islands. This initiative, part of an international effort to control invasive species in environmentally sensitive regions, is administered by the Wild Ecology Group. Evolve™ will be used across over 60 islands and has been identified as a long-term, sustainable solution to invasive species proliferation. The initial multi-pallet order is already en route to the Virgin Islands, with regular orders scheduled. Evolve™ effectively addresses rodent overpopulation by reducing fertility rather than using poisons. The product is easy to deploy and suitable for various environments.
SenesTech has announced its participation in the Lytham Partners Spring 2024 Investor Conference on May 30, 2024. CEO Joel Fruendt and CFO Tom Chesterman will present a webcast at 11:45am ET and host one-on-one meetings with investors. The webcast can be accessed via the conference home page or directly through a provided link, with a replay available post-event. Investors can schedule one-on-one meetings by contacting Lytham Partners or registering on the event's website.
SenesTech has launched its Evolve™ fertility control solution for rats on Amazon. Evolve, a minimum risk soft bait, aims to address rodent overpopulation by reducing fertility rather than using poisons. Previously available only to professionals, Evolve is now accessible to everyday consumers, aiming to revolutionize pest control. The product contains an active ingredient proven to reduce rodent fertility in independent studies. Currently, the U.S. rodent pest management market is valued over $1 billion annually, with significant growth in e-commerce sales. Increasing regulatory restrictions on traditional poisons further highlight the potential for Evolve's market expansion.
SenesTech, Inc. announced record quarterly revenues of $415,000 in Q1 2024, a 78% increase compared to Q1 2023. Their product Evolve™ is the biggest-selling product, contributing over 50% of revenue. The company secured distribution agreements, expanded its geographic reach, and introduced new products like Evolve Mouse. The financial results showed a net loss of $1.8 million, with an Adjusted EBITDA loss of $1.7 million. Cash at the end of March 2024 was $3.6 million. The management is optimistic about the commercial and development milestones achieved in 2024, including the launch of a dedicated Amazon store and expansion of the addressable market with Evolve Mouse.
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