A stable composition for rapid delivery by inhalation to the lungs, and subsequently to the bloodstream, is provided. The composition comprises a therapeutically effective amount of delta-9-tetrahydrocannabinol in a pharmaceutically-acceptable semiaqueous solvent comprising an alcohol, water and a glycol. A composition comprising volumetric ratios of ethanol:water:propylene glycol selected from those in the range of from 10-70:10-30:20-80, respectively, having a combined total of 100 is also provided. A sterile and/or preserved sealed unit-or multi-unit dosage form of delta-9-tetrahydrocannabinol is further provided.