Tilray is now the most valuable cannabis company in the world – Quartz

In the Canadian medical marijuana company Tilray Inc., things are steadily increasing.

After the US Drug Enforcement Administration (DEA) approved its medical marijuana export application today (Sept. 18), Tilray's shares had their second best day, with shares listed in the US exceeding almost 29%. They closed at 154.98 dollars, after almost fivefold in the past month and almost eighth since its debut in July.

As its share price continues to skyrocket, the "sophisticated producer of premium medical cannabis" has outstripped Canadian rival Canopy Growth Corp. to become the most valuable marijuana company in the world. Tilray is now valued at $ 14 billion, but its CEO, Brendan Kennedy, told Bloomberg he could predict a $ 100 billion future.

The recent approval of the DEA is for a forthcoming clinical trial on the DBC, alongside the Center for Research on Medicinal Cannabis at the University of California at San Diego, to treat essential tremors, the disorder of the neurological movement. The disease mainly affects the elderly and causes uncontrollable shaking.

Tilray is also involved in a series of other clinical trials around the world to treat everything from PTSD to chemotherapy-induced nausea.