FLAGSTAFF, Ariz., May 15, 2019 /PRNewswire/ — SenesTech, Inc. (NASDAQ: SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, today announced financial and operational results for the first quarter of fiscal 2019, which ended March 31, 2019.
The Company also announced the appointment of Ken Siegel as SenesTech’s new Chief Executive Officer, succeeding the Company’s Co-Founder, Dr. Loretta Mayer, who will remain Chair and Chief Scientific Officer. Today’s leadership announcement is part of SenesTech’s ongoing strategic plan to position the Company for growth and drive the commercialization of ContraPest, its flagship product. The new approach, launched earlier this year has begun to gain traction with key municipalities and the food/agricultural markets.
Mr. Siegel is a seasoned senior executive with over 25 years of leadership experience at major public and private corporations. He most recently served as President of Diamond Resorts International, a leading independent branded vacation ownership company. Prior to Diamond, he served as Chief Administrative Officer of Starwood Hotels & Resorts, a global hospitality company, until its acquisition by Marriott International in 2016. Siegel’s background includes operations, finance, legal, branding and reputation management, sustainability and social responsibility, lobbying and regulatory affairs. He also has extensive experience working with and in technology businesses and is an expert in the development and protection of intellectual property assets.
Ken brings tremendous passion to SenesTech’s highly effective, eco-friendly solutions to pest control. He is a recognized leader in corporate sustainability and social responsibility having developed Starwood’s innovative strategies to mitigate potential social and economic harms of its business through initiatives that improved overall economic performance. He is a key proponent of strategies to “do well by doing good.”
“I believe that SenesTech has developed the right product and technologies for our times,” Siegel said. “ContraPest is a highly effective, proven, and eco-friendly solution to an age-old problem. With growing environmental and effectiveness concerns around existing solutions, SenesTech stands alone in offering a product that addresses a critical need for pest control without the inherent environmental risks of existing rodenticides.”
Co-Founders Dr. Loretta P. Mayer, Chair of SenesTech and Chief Scientific Officer, and Dr. Cheryl A. Dyer, President and Chief Research Officer, said, “We are excited to have Ken join us in this leadership role. We know that he shares our commitment to SenesTech’s mission and a passion for our product, ContraPest. We also know that his extensive executive experience, corporate relationships and his understanding of the customer are ideally suited to rapidly drive adoption of ContraPest. With Ken’s overall leadership, we can continue to focus on SenesTech’s enduring vision: sound science, effective solutions.”
Mr. Siegel continued, “The awareness and wide availability of ContraPest is the most it has ever been. The activity over the last few months, including deployments in large municipalities, such as Washington DC, St. Louis, Southern California, San Francisco and elsewhere confirms that the need for a novel solution to this persistent problem is evident. Continued successful deployments will enhance the market penetration of ContraPest and our unique technology. Targeting our strategic and tactical marketing efforts directly to the commercial end-user market segments is key to our future success. I am confident that we can drive substantial growth in 2019 and beyond.”
Recent Developments:
Since the beginning of the year, SenesTech announced a number of recent developments involving ContraPest, including:
- A comprehensive roll-out of ContraPest in Washington DC commencing in spring 2019. ContraPest has been deployed in the first ward with sequential deployments now planned throughout all eight wards.
- Deployed ContraPest in a major transit agency in Southern California.
- Expanded into additional animal sanctuaries following the successful deployment at an initial facility in upstate New York.
- Completed initial deployments in hosted poultry farms and will begin first commercial application in egg production facilities in California’s central valley.
- Expected expansion of use of ContraPest by St. Louis Gateway Arch Park Foundation.
- Added ContraPest to Pestec’s IPM program for use in popular locations within the San Francisco Bay Area.
- Introduced products into the animal care market with ContraPest provided directly or indirectly to 11 zoos and a wide variety of animal sanctuaries.
- Removal of the “Restricted Use Only” category from the ContraPest label was approved by the U.S. Environmental Protection Agency (EPA) in October 2018. As of this date, the Company has received follow-on state acceptance for the new label and removal of restricted use status in 35 states, including Florida and Washington.
- Launched a new scientific speaker series, showcasing the scientists and researchers who have made substantial contributions in rodent/animal behavior, rodent management, fertility control and other related fields.
- Progression of AB 1788 continues through the California legislature. If passed, AB 1788 would greatly restrict or eliminate the use of second generation anticoagulant rodenticides (SGARs). This, in turn, could accelerate the adoption of ContraPest in California.
To view Financial Results and forward looking statements, click here.