** Drug developer’s shares up 10.63 pct at $2.60 premarket
** Says the U.S. FDA has granted orphan status for its lead cancer drug, CUDC-907
** Says drug being tested in early-stage studies; expects to begin mid-stage studies in second half of year
** Orphan status, which is granted to drugs developed to treat rare diseases, gives developer several incentives including a seven-year marketing exclusivity in U.S.
** Up to Thursday’s close, stock had risen 57 pct this year