** Lipella Pharmaceuticals' shares rise 7% to $2.59 premarket
** LIPO says completed dosing of first group of patients in mid-stage study of LP-310, its key experimental drug to treat oral lichen planus
** OLP is a chronic inflammatory disease that affects mucous membranes inside the mouth
** Disease affects about 6-7 million Americans, and has no approved drug besides those used to alleviate symptoms, the co's website says
** As of last close, stock had fallen 70% YTD
(Reporting by Leroy Leo in Bengaluru)
((Leroy.Dsouza@thomsonreuters.com;))
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