Creso Pharma (ASX: CPH) utilises pharmaceutical expertise and methodological rigour to develop cannabis and hemp derived therapeutic, nutraceutical and lifestyle products with wide range patient and consumer reach for human and animal health.

In recent months, CPH has secured several purchase orders, with total POs confirmed for delivery in the first half of 2021 totalling over $1M.

The company is growing its revenue profile across a number of regions and expanding its product lines including its flagship cannaQIX® range of products, which should hopefully translate into continued momentum on the sales front.

Share price gains have also been underpinned by significant developments on the regulatory front that are likely to benefit Creso Pharma across key markets such as the US and the European Union.

In particular, US cannabis regulations are expected to open up following the Democratic Party securing the balance of power in the Senate.

The development enhances the potential for the Marijuana Opportunity Reinvestment and Expungement (MORE) Act to be passed in the Senate, a bill which aims to remove cannabis from the US Controlled Substances Act.

Legislation like the MORE Act is expected to encourage private investors and larger corporate entities that have been hesitant to become involved in the US cannabis industry due to federal prohibition.

Creso Pharma is well positioned to capitalise on near term opportunities in the US market, with an established global distribution network that will benefit from the ruling, as well as a leading Canadian subsidiary, Mernova Medicinal Inc. (Mernova), that already has a 24,000 sq ft cannabis growing facility 220 miles from the US border that can service the US and broader markets.