SenesTech Inc. (SNES) stock is soaring in Friday’s 19th March Pre-market session. As of this writing, it has gained 61.31%. Let’s try to findout what’s the reason behind pre-market surge.
Successful completion of a long-term agricultural deployment of ContraPest
Yesterday, after market close, SNES announced the successful results of ContraPestagricultural deployments. It showed success in reducing rat populations and improving operating economies in poultry settings.
ContraPest is the company’s first fertility control product,for managing animal pest populations.
ContraPest was used at an egg production farm on the west coast, where cameras were used to monitor the rat populations over a year. A reduction in rat activity was noted throughout ContraPest treatment. Over the year there was a 90% decline in rat activity.
On a second pullet farm on the east coast, economic impacts and consumption rates caused by rats were recorded before and after the introduction of ContraPest.88% improvement in pullet survival after reducing their rat population with ContraPest.
The CEO of SenesTechKen Siegel said that the results are immediately applicable to many other agricultural situations and ContraPest is now proven in the field to reduce infestations.
Scheduling the release of Financial results
On March 17, SNES said that SNES will report financial results for its fourth quarter and fiscal year 2020, ended December 31, 2020, after the market close on Thursday, March 25, 2021. SNES Stock has scheduled a conference call that same day, Thursday, March 25, 2021, at 5:00 pm ET, to review the results.
SenesTech is an agricultural biotechnology life-sciences company, specializing in fertility management as a form of pest control. SenesTech is changing the model for pest management by targeting one of the root causes of the problem: reproduction. Senes Tech was founded by two scientists in 2003with a deep love for animals. SNES’s flagship product ContraPest is setting the new way for pest management, yielding proven and impressive results. ContraPest that targets the reproductive capabilities of both sexes in rat populations, inducing egg loss in female rats and impairing sperm development in males. SNES received EPA registration in 2016 and are currently registered in all 50 states and Washington D.C.
Conclusion: The great results of ContraPest and the upcoming announcement of financial results is the main reason behind their pre-market rally. The positive trend for SNES stock can remain steady on the last day of the week.