SNES: SenesTech has announced preliminary unaudited revenue for the fourth quarter 2019 that were close to our estimates. It also outlined cost reductions including a reduction in headcount.
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SenesTech (NASDAQ:SNES) announced on Feb. 13 2020 that unaudited revenue for 4Q19 would by about $0.07 million as compared to our estimate of $0.08 million.
A goal of a reduction in expenses of $1 million was also discussed. We assume that this includes the (previously announced) elimination of $0.137 million a quarter from the resignations of Dr. Mayer and Dr. Dyer. This would leave just a little over $0.113 million a quarter to be cut from expenses to achieve the target. We have adjusted our forecasts to reflect reductions in S.G.&A. in the the income statements and earnings forecasts.
The company continues to believe that AB1788, the measure to reduce the use of anticoagulant rodenticides in California, will resume its legislative progress in the current session. We have not included any increase in revenue from AB1788 in our projections.
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