BUZZ-Oncolytics Biotech Inc: Submits application for orphan drug status
** Canadian drug developer's stock up 11 pct at 59 Canadian cents, U.S.-listed shares up 13 pct at 47.4 cents
** Says submitted application for orphan drug designation for its experimental drug to treat high grade gliomas in pediatric patients
** FDA grants orphan drug designation status to products that treat rare diseases, providing incentives to sponsors developing drugs or biologics
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