** Cancer drug developer Sellas Life Sciences Group's
shares rise 3.7% to $1.24
** Co says preclinical data showed its experimental drug, SLS009, demonstrated high efficacy in treating solid cancers with mutations in the ASXL1 gene
** Late last year, U.S. Food and Drug Administration granted SLS009 "orphan drug" status
** Orphan drug status is given to drugs that treat rare conditions, and are protected through a series of government incentives once in market
** Including session's gains, stock has risen 16.5% YTD
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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