Senestech Inc Stock Price, News & Analysis

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.

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.