07:40 AM EDT, 07/24/2024 (MT Newswires) -- Cannabis company Tilray Brands ( TLRY ) announced Wednesday that subsidiary Tilray Medical has received official approval for a new medical cannabis extract in Portugal.

This follows the approval of Tilray Medical whole flower THC 18, and for the first cannabis extract in Portugal earlier this year.

"This is a significant step towards meeting the critical needs of patient care and providing high-quality cannabis products and therapeutic options to those with specific medical conditions," said Denise Faltischek, chief strategy officer and head of international at Tilray Brands ( TLRY ).

Tilray is down 1.6% in U.S. premarket trade, to US$1.86.