** Biotech firm Celcuity's CELC.O shares rise 7.8% to $111.89

** U.S. Food and Drug Administration approves CELC's gedatolisib with fulvestrant, with or without palbociclib, for advanced or metastatic breast cancer

** Gedatolisib is CELC's experimental breast cancer drug

** In June, CELC said gedatolisib extended the period of time a patient lives without the disease worsening

** CELC stock has risen nearly 8% YTD