Medical marijuana producer Canopy Growth Corp. has become the first Canadian company in the sector valued at more than $1 billion after strong quarterly results sent the stock on a tear.

The company was trading hands at $11.16 per share when stock markets closed in Toronto on Monday. That values the company at almost $1.3 billion.

As recently as July, the company was worth less than a third of that. But that was before seven U.S. states voted last week to legalize some form of either recreational or medical marijuana.

The company’s recent financial results show impressive growth to keep up with demand, as the company says it has  24,400 registered patients at the end of September. That’s up from 6,600 during the previous quarter and 6,200 a year ago. [Read more at CBC News]