** Shares of drug developer Kinnate Biopharma rise 5.1% to $2.60
** Co sells its experimental cancer therapy called exarafenib to France-based Pierre Fabre Médicament for up to $31 mln
** The therapy was being tested in early and early-to-mid stage trials
** KNTE will receive $500,000 upon closing of the deal, and $30.5 mln contingent to certain milestones
** Stock down 50.8% in the last 12 months
(Reporting by Puyaan Singh)
((Puyaan.Singh@thomsonreuters.com;))
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