Creso Pharma shares are up more than 70 percent in less than a week since hitting Australia’s ASX, trading as high as 34.5 cents on Monday morning, according to a FinFeed report. The stock closed at 29.5 cents when trading ended on Friday.
In an investor presentation released Monday, the biotech firm outlined its strategy to potential investors – the document included information already publicly available.
The company says they are poised to grow with the success of the global cannabis industry, estimating that recreational sales in the US would outpace medical sales by 2018; however, the medical sector would still be worth $3.8 billion — just shy of the estimated $4 billion recreational market.
The firm is predicting that its growth will be buoyed by the “recession-resistant” animal health products industry and that a large segment, 41 percent, of health owners have tried alternative therapies for pets suffering from pain, metabolic diseases, and behavioral-based disorders such as anxiety, noise phobias and aggression.
Creso expects the first two products, one based on its INNUtri Soft Gum drug delivery method and a second focused on animal health, to be available in late 2017. A third product, based on the BioLingus tablet, is estimated in mid-2018. The company anticipates its maiden profits to be realized in 2019.
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