Senestech (SNES) Stock News

SenesTech announced the completion of a registered direct offering of 857,146 shares of its common stock at $1.75 per share, raising approximately $1.5 million before fees. The offering also included Series C warrants to purchase the same number of shares at an exercise price of $1.62, expiring in five and a half years. H.C. Wainwright & Co. was the exclusive placement agent for this offering. The net proceeds are intended for general corporate purposes. The offering was conducted under a previously filed shelf registration statement with the SEC.

SenesTech, Inc. (NASDAQ: SNES) reports strong growth in its animal care segment following its participation at the Animal Care Expo in New Orleans. The event, attended by over 2,000 participants, highlighted the company's unique product, ContraPest, the only EPA registered contraceptive for rats. CEO Joel Fruendt noted enhanced visibility in the industry and immediate interest from attendees regarding the product's integration into pest management plans. Orders generated from the conference are bolstered by existing customer referrals. The company also announced deploying the Elevate Bait System at a large municipal shelter in Louisiana. This strategic move signifies SenesTech's increasing penetration in the animal care market, aligning with its commitment to humane pest control.

On April 10, 2023, SenesTech (NASDAQ: SNES) announced a registered direct offering of up to 857,146 shares at $1.75 per share, expected to generate approximately $1.5 million in gross proceeds. Concurrently, the company will issue Series C warrants for the purchase of an equal number of shares at an exercise price of $1.62, set to expire in 5.5 years. The closing is anticipated around April 12, 2023. Proceeds from the offering will support general corporate purposes. The offering will be executed under an effective shelf registration, and H.C. Wainwright & Co. is acting as the exclusive placement agent.

SenesTech (NASDAQ: SNES) announced that Los Angeles County is expanding its use of the EPA-registered fertility control product, ContraPest, in upcoming Requests for Proposal (RFPs). In January 2022, the county mandated the inclusion of EPA-registered fertility control in pest management proposals, favoring ContraPest as the only available option. After a successful year-long deployment, the contract was renewed, and additional RFPs now require its use. Reports from Baldwin Park showed a significant population reduction of 50% within 6 months and 80% at 12 months. CEO Joel Fruendt noted a surge in interest from pest management companies, with around ten bidders responding to this latest RFP, many considering ContraPest for other projects. The company aims to enhance pest management strategies through its unique, non-fatal rodent control solution.

SenesTech (NASDAQ: SNES) announced a national distribution agreement with Target Specialty Products for their contraceptive, ContraPest, aimed at rodent fertility control. This collaboration enhances marketing and sales efforts within the pest management community, leveraging Target's reach and credibility. SenesTech's CEO highlighted the strategic vertical role distributors play, emphasizing the importance of credibility among pest management professionals (PMPs). With renewed agreements with major distributors, SenesTech aims to increase adoption of ContraPest, contributing to improved pest control practices.

SenesTech, Inc. (NASDAQ: SNES) has gained recognition in TIME Magazine for its innovative rodent control product, ContraPest. This EPA registered contraceptive has demonstrated a significant impact, reducing rat populations by up to 90% in various programs, including a new initiative in Ferndale, MI. The CEO, Joel Fruendt, highlighted ContraPest's potential to transform pest management globally. Parker Eco-Pest Control reported similar success in Seattle, with businesses experiencing rodent-free conditions for the first time. The article emphasizes ContraPest as a sustainable solution to tackle rat infestations through fertility control.

SenesTech, Inc. (NASDAQ: SNES) reported strong financial results for 2022, with product sales exceeding $1 million and an overall increase of 77% year-on-year. Revenue reached $1.0 million, a 70% rise from 2021, while gross profit was $464,000. Despite these gains, the company posted a net loss of $9.7 million. The fourth quarter saw revenue of $297,000, up 54%, with product sales increasing 76%. Significant growth was driven by the e-commerce platform and contracts with zoos and government agencies. The recent launch of the Elevate Bait System™ is expected to create further opportunities, particularly within agricultural markets.

SenesTech (NASDAQ: SNES), a leader in rodent fertility control, has announced its collaboration with Danish company TriptoBIO to develop biosynthetic triptolide, an active ingredient in their EPA-registered contraceptive, ContraPest. This partnership aims to enhance the efficiency and cost-effectiveness of ContraPest by ensuring consistent quality and reducing production costs compared to botanically sourced triptolide from China. CEO Joel Fruendt highlighted the potential for improved market expansion and sustainability through this initiative, which aligns with the company's mission to advance pest management practices.

SenesTech, Inc. (NASDAQ: SNES) is set to release its financial results for the fourth quarter and fiscal year 2022 after market close on March 16, 2023. A conference call will follow at 5:00 pm ET to discuss the outcomes. The company's proprietary technology, ContraPest, is focused on managing rodent populations through fertility control rather than extermination. This unique approach aligns with sustainable pest management practices. Investors can join the conference call via telephone or through a live webcast available on SenesTech's Investor Relations website.