Zelira Therapeutics’ insomnia treatment gets TGA tick

Shares in Perth-based Zelira Therapeutics have surged after the medicinal cannabis company announced its insomnia treatment can now be prescribed in Australia.

The company’s stock was up 11.7 per cent to 6.7¢ at 12.50pm

Zelira’s cannabinoid medicine Zenivol received approval from the Therapeutic Goods Administration, following a “world-first” clinical trial conducted by the University of Western Australia.

“Zenivol is custom designed to address the large unmet need for insomnia patients that have failed current medications and are looking for a safe and effective alternative,” managing director Richard Hopkins said.

“The ability to support Zenivol with clinical trial data provides a key point of differentiation in the market and further supports our global Zelira commercialisation strategy.”