BUZZ-Oncolytics Biotech Inc: Orphan drug status for drug
** Canadian cancer drug developer's U.S.-listed shares up 14 pct at 79 cents premarket
** Says its experimental drug Reolysin gets orphan drug status from U.S. FDA
** Drug being developed for treating malignant glioma, a type of tumor that affects the brain and spine
** Orphan status, granted to drugs developed to treat rare diseases, gives developer several incentives including seven-year marketing exclusivity in U.S.
** Up to Thursday's close, stock had fallen 54 pct in the past 12 months
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