Loading articles...

Tilray shares continue to climb higher on second day after export approval

Last Updated Sep 19, 2018 at 7:31 am PDT

Canadian marijuana producer Tilray Inc. says it has received approval from the U.S. Drug Enforcement Administration agency to export a medical cannabis product south of the border for use in a clinical trial. Tilray President Brendan Kennedy is photographed at head office in Nanaimo, B.C., on Thursday, November 29, 2017. THE CANADIAN PRESS/Chad Hipolito
Summary

Tilray Inc. shares were up nearly 20 per cent in early trading, following a nearly 30 per cent jump on Tuesday

TORONTO – Shares in marijuana company Tilray Inc. were up nearly 20 per cent in early trading.

The move in the stock follows a nearly 30 per cent jump on Tuesday after the company announced it had received approval to export a medical cannabis product to the U.S. for use in a clinical trial.

The company will be exporting capsules with two active ingredients extracted from the cannabis plant for a clinical trial as a potential treatment for essential tremor, a neurological disorder.

Tilray shares shot up over US$230 just after the trading day began, but quickly backed off.

The stock was up US$28.98 at US$183.96 in early trading on the Nasdaq market.

Tilray completed its initial public offering in July with its shares priced at US$17 per share.