March 2, 2015 / 1:23 PM / in 3 years

BUZZ-Oncolytics Biotech Inc: Orphan status for fallopian tube cancer drug

** Canadian biotech company’s U.S. shares up 17 pct at $0.84 premarket

** Says the U.S. FDA granted lead drug Reolysin orphan status for treatment of fallopian tube cancer

** Reolysin also being tested for other cancer indications, including breast, pancreatic and head or neck cancers, in multiple studies

** Drug also been given orphan drug status for treatment of ovarian cancer and pancreatic cancer last month

** Orphan drug status granted to drugs developed to treat rare diseases; gives drug developer incentives, including 7-year marketing exclusivity

** Up to Friday’s close, stock rose 36 pct this year

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