SenesTech, Inc. (SNES) stock prices were up by 4.40% as of the market closing on June 25th, 2021, bringing the price per share up to USD$1.66 at the end of the trading day. Subsequent pre-market fluctuations saw the stock surge by another 7.23%, bringing it up to USD$1.78.
New Brand Campaign
May 2021 saw the company launch a new brand campaign, The Pest Control Difference, with its proprietary ContraPest at the forefront. The rebranding of the company’s image comes in line with its transition from a science-based research company to a solutions based commercial company. SNES is keen to highlight its environmental responsibility as it provides an innovative and effective tool for pest control management in the 21st century.
ContraPest
March 2021 saw the company complete model agricultural deployments of ContraPest, which had a proven track record of successfully reducing rodent populations and, consequently, improving operating economies in poultry settings. A measurable reduction in rodent populations was reported within six months of deployment at both an eff production farm and a pullet house. Within a year of adding ContraPest, the egg farm reported a 95% decline in rodent activity.
ContraPest Success
The company also reported a long-term deployment that was completed in March 2021, with the East Coast urban setting reporting highly promising results. Data from the twelfth month showed a 94% reduction in rat activity at Site A, as well as a 98% reduction in juvenile rat photos since the start of monitoring. Site B reported a 99% reduction in rodent activity, with a 100% reduction in juvenile rat photos during the same period.
Scope of ContraPest
As of January 1st, 2021, California’s AB1788 bill was signed by the Governor and became law. The California Ecosystems Protection Act from 2020 will accordingly result in the prohibition of the four main SGAR’s used to treat rodent pest control problems. With ContraPest being a viable alternative, this development has seen a market space open up for SNES that could amount to a potential USD$100 million every year.
Solid Financials
Revenue for the first quarter of the fiscal year 2021 was reported at USD$88,000, up from the USD$37,000 reported in the same quarter of the prior year. The 138% year-over-year increase is not inclusive of more than USD$20,000 of backlog, with late orders fulfilled in April 2021 being included in the second quarter of 2021’s numbers. As of the end of Q1 2021, SNES reported a solid liquidity position of USD$15.2 million.
Future Outlook for SNES
Armed with a solid liquidity position, SNES is poised to capitalize on the proliferation of its ContraPest technology. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.
