PHOENIX - SenesTech, Inc. (NASDAQ:SNES), a company specializing in fertility control for animal pest management, has announced a distribution agreement with Australian environmental management firm Evicom. This partnership aims to introduce SenesTech's product, Evolve™, to markets in Australia, New Zealand, and surrounding regions.
The agreement, which includes annual minimums, will see Evicom spearheading regulatory approvals for the product. Evolve is a fertility control soft bait designed for rats, which SenesTech claims poses no risk to human health or the environment. This product aligns with both companies' strategies to provide humane and sustainable pest management solutions.
Joel Fruendt, President and CEO of SenesTech, expressed confidence in Evicom's ability to effectively distribute Evolve, especially amidst Australia's periodic "rat plagues" and New Zealand's initiative to eradicate invasive Norway rats by 2050. Simon de Bono, Managing Director of Evicom, shared the enthusiasm for the exclusive distribution rights, noting the product's fit with their technology-led approach to environmental management.
SenesTech has developed ContraPest, the only U.S. EPA-registered contraceptive for male and female rats, and Evolve, which is classified by the EPA as a minimum-risk contraceptive. Both products are designed to integrate into existing pest management programs.
Evicom brings over two decades of experience in environmental management and wildlife control to the partnership, offering custom solutions to a diverse client base, including aviation, government, mining, and construction sectors.
The information reported is based on a press release statement from SenesTech, Inc.
InvestingPro Insights
In light of SenesTech, Inc.'s recent strategic partnership with Evicom, investors may be keen to understand the financial health and market performance of the company. According to InvestingPro data, SenesTech currently holds a market capitalization of $5.36 million USD. While the company's revenue shows a growth of 34.12% over the last twelve months as of Q3 2023, it is also important to note that SenesTech is not profitable over the same period, with an operating income margin of -681.67%. Despite these challenges, the company has experienced a significant return over the last week, with a price total return of 28.81%.
Two InvestingPro Tips that are particularly relevant to investors considering the company's future prospects include:
- SenesTech holds more cash than debt on its balance sheet, which may provide some financial stability as it embarks on international expansion.
- The stock has generally traded with high price volatility, which could be a consideration for risk-averse investors.
For those interested in a deeper dive into SenesTech's financials and stock performance, there are additional InvestingPro Tips available. In fact, there are 12 more tips listed in InvestingPro for SenesTech, which can be found at https://www.investing.com/pro/SNES. These tips could provide further insights into the company's cash burn rate, stock price performance over various time frames, and other critical financial metrics.
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