** Canadian biotech company's U.S. shares up about 15 pct at 83 cents premarket
** Oncolytics says it completes enrollment for mid-stage study testing its lead drug, reolysin, in patients with colorectal cancer
** FDA has granted reolysin orphan drug status to fight pancreatic, ovarian cancer
** The designation is granted to drugs developed to treat rare diseases, offering the developer several incentives, including seven-year marketing exclusivity in the U.S.
** Reolysin is being tested for use in a plethora of cancers, both alone and in combination with chemotherapy
** Up to Tuesday's close, stock had risen 1.4 pct since Nov. 6, when the company posted a smaller-than-expected Q3 loss