Creso Pharma shares jumped when the medical cannabis company debuted on the ASX.
The shares are up by a quarter since listing on Thursday at 25 cents. A short time ago, they were at 31.5 cents.
The company joined fellow medical marijuana companies, MGC Pharmaceuticals and Zelda Therapeutics, on the ASX on Thursday.
CEO Miri Halperin Wernli says many have rushed into the market with the re-discovery of the medical benefits of the cannabis plant.
“Our core difference is the level of methodological rigour we will bring to the sector that will complement traditional plant-derived cannabis treatments already on the market,” says Wernli.
The company raised $5 million in the listing, to be used to further develop Creso Pharma’s products treating anxiety, arthritis and pain.
The company is also looking at the vet market to treat pets.