FLAGSTAFF, Ariz., Aug. 1, 2018 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, today announced that the Company had sold and shipped more ContraPest® in July than any month in its history.
"Two factors came together in July to make this our best sales month ever. One, the sales promotions that we put in place during the second quarter matured in July. Two, the opening of the California market to ContraPest was just as successful as anticipated," said Dr. Loretta P. Mayer, co-Founder and CEO of SenesTech.
"During July, we had new or continuing orders from all of our distributors. We continue to directly communicate with over 50 pest management professional companies (PMPs) that are deploying ContraPest as part of their integrated pest management programs. We are also seeing interest in ContraPest by more government agencies, most recently in California, where PMPs, parks and transit agencies are adding ContraPest to their toolbox of pest management solutions. We also had our first two orders from Hawaii, where we only started marketing last week," said Tom Chesterman, CFO and head of commercialization for SenesTech. "We expect to record between $50,000 and $60,000 in revenue in July alone, which we believe shows that the current commercialization team and program that we started in April is gaining traction, and we expect it to continue to grow."
The Company will release second quarter earnings on August 13, 2018.
ContraPest® is an innovative technology that targets the reproductive capabilities of Norway and roof rats. As a highly palatable liquid, the formulation promotes sustained consumption, helping to reduce fertility in both male and female rats, bringing populations down and keeping them down. Our delivery system is designed to minimize handler exposure, and ContraPest is dispensed inside tamper resistant bait stations, minimizing the risks to non-target species.
As a versatile tool, ContraPest can be used within Integrated Pest Management (IPM) programs to help reduce reproduction and magnify the success of IPM protocols or as a standalone, non-lethal solution for customers that are looking to reduce or eliminate the use of lethal methodologies.
ContraPest is a Restricted Use Pesticide, due to applicator expertise. Please read and comply with all label instructions.
SenesTech has developed and is in the process of commercializing a proprietary technology for managing animal pest populations, primarily rat populations, through fertility control. For more information visit the SenesTech website at www.senestech.com.
Safe Harbor Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors and other risks identified in our filings with the Securities and Exchange Commission. Those include the failure of distributors and PMPs to sell our products, or of governmental agencies to adopt and continue to use our products. Forward-looking statements include but are not limited to, our expectations regarding the California pest control market, including our expectations regarding interest in and sales of products, the timing of our marketing, sales and shipments of our products, and our belief that our products are gaining traction and sales will continue to grow. Forward-looking statements also include our expectations regarding our financial results, including the operating expenses we expect to report. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.
Investor: Robert Blum, Joe Dorame, Joe Diaz, Lytham Partners, LLC, 602-889-9700, [email protected]
Company: Tom Chesterman, Chief Financial Officer, SenesTech, Inc., 928-779-4143
SOURCE SenesTech, Inc.