With over 11.26 million shares traded in the premarket session today, SenesTech, Inc. (NASDAQ: SNES) stock is up more than 80%. A dip of -1.75% has put the closing price of SenesTech stock on Thursday at $1.68. In a couple of agriculture settings, SenesTech has seen positive results in the deployment of its fertility control product, and that news is raising SNES stock price up in pre-hours trading.
What purpose did the product deployment serve?
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SenesTech is in the business of developing proprietary, next-generation technologies for reducing animal pests through fertility control. By focusing on reproductions as a root cause of the problem, SNES is changing the model for pest control. In contrast to the traditional lethal approach, SenesTech’s fertility control technology is a better way to manage animal pest populations. ContraPest is the first fertility control product the SNES marketed initially for the purpose of controlling rat infestations.
Today, SenesTech announced that ContraPest had been deployed in agricultural settings with sustained success in reducing rat populations and reducing operating costs.
Birds in poultry facilities are harmed in numerous ways by rats. Disease transmission, equipment impairment, predation on chicks, loss of grains, and intermittent production may all result as a result of the presence of rats in such facilities.
An integrated pest management plan was added to two poultry farming operations to utilize ContraPest. On an egg production farm on the west coast, monthly camera surveys were used to evaluate rat population reduction throughout ContraPest treatment for a year. At another farm, the staff measured the consumption rates of rats on the east coast before and after ContraPest was introduced. The following details are shared by SNES:
- Rats in both farms decreased substantially within a period of six months after deployment of the treatment strategy and continued to decline as treatment continued.
- Within 12 months of adding ContraPest, the west coast egg farm reported a 90% decline in rat activity.
- ContraPest improved the survival rate among east coast pullets by a factor of 88%.
- Over $400,000 in increased revenue and decreased costs are projected for the customer to be saved by adding ContraPest to their pest management plan.
With reduction in rat activity brought about by SenesTech’s ContraPest and the clear economic benefit, it generated; rodent control programs on both farms were significantly enhanced as a result of SNES product.