Senestech Inc Stock Price, News & Analysis

SenesTech, Inc. (NASDAQ: SNES) recently showcased its rodent fertility control product, ContraPest®, at PEAK 2023, the largest poultry industry trade show in the U.S. The event, held in Minneapolis, featured over 250 exhibitors and attracted approximately 2,000 visitors. CEO Joel Fruendt emphasized the economic benefits of ContraPest, highlighting a successful deployment that saved a customer over $600,000 with a modest investment of $5,000. The poultry market presents a significant opportunity for SenesTech, with an addressable size nearing $200 million. The company demonstrated a 95% reduction in rat populations through its product, further solidifying its position in integrated pest management. SenesTech's innovative approach aims to humanely manage animal populations and improve environmental health.

On April 17, 2023, SenesTech (NASDAQ: SNES) participated in New York's Rodent Roundup, a key event for the pest management industry. CEO Joel Fruendt and the sales team highlighted their product, ContraPest, the only EPA registered contraceptive for rats. The conference provided a platform for networking with top pest management professionals and city officials as they prepare an integrated pest management plan. Feedback from attendees emphasized ContraPest's effectiveness in reducing rat populations while being environmentally friendly.

SenesTech aims to address New York's rat crisis with innovative and humane solutions, showcasing ContraPest as an affordable option that can be integrated into existing pest control strategies.

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.