BUZZ-Oncolytics Biotech Inc: Gets orphan status for cancer drug in Europe

Wed Mar 25, 2015 7:26am EDT
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** Canadian cancer drug developer's U.S.-listed shares up 14 pct at $0.90 premarket

** The European Medicines Agency grants orphan drug designation to company's lead drug, Reolysin, to treat patients with ovarian cancer

** The status gives the drug developer a number of incentives, including 10-year marketing exclusivity in Europe

** The U.S. Food and Drug Administration granted Reolysin orphan status for ovarian and fallopian tube cancer earlier this month

** The drug is also being tested for other cancer indications, including breast, pancreatic and head or neck cancer

** Up to Tuesday's close, stock had risen nearly 50 pct this year