Hemispherx Biopharma

(HEB)

appointed health care consultant Anthony Bonelli as its new president and chief operating officer.

Bonelli is replacing Doug Hulse, who has been serving part-time as president and COO. Hulse had been contracted to Hemispherx from Sage Group. He plans to continue with the company as a senior adviser to the board.

Hemispherx says Bonelli has more than 25 years of health care industry experience. He was recently president and CEO of DNA sciences company Optigenex and previously served as an adviser for companies including

Schering-Plough

( SGP) and

Pfizer

(PFE) - Get Report

through his own advisory firm.

"Mr. Bonelli's experience and expertise greatly strengthen our ability to deliver Hemispherx into commercialization and profitability," said Chairman and CEO William Carter in a press release Tuesday.

Shares of Hemispherx fell 2.1% to $1.88.