ArQule names new chief medical officer

Woburn biotechnology company ArQule Inc. today said it named Dr. Brian Schwartz to be its chief medical officer effective July 14, replacing Dr. Nigel Rulewski.

He most recently worked as senior vice president of clinical and regulatory affairs, and chief medical officer at Ziopharm Oncology Inc. Rulewski will remain chief medical officer until July 14, then assist with the transition.

Other personnel changes at the company include the June 9 appointment of Paolo Pucci to chief executive and director, succeeding Stephen A. Hill, who left to take the president and chief executive position at Solvay Pharmaceuticals.

Shares of ArQule fell 30 cents, or 7.3 percent, to $3.80 in afternoon trading on the Nasdaq Stock Market. The stock has traded between $3.48 and $8.34 over the last 52 weeks. (AP)