On February 19, 2016, the Board of Directors of Hemispherx Biopharma, Inc. made several changes to its executive management team in light of the termination of Dr. William Carter, to provide effective and competent leadership that will properly position the company to achieve its commercial goals and increase stockholder value. In this regard, Adam Pascale has been named Chief Financial Officer in addition to his current responsibilities as Chief Accounting Officer. Mr. Pascale has been employed with company for 18 years, with more than two decades of public accounting experience and prior public company experience.

Mr. Pascale served for several years as a CPA prior to joining Hemispherx. Thomas K. Equels, President of the company, resigned as Chief Financial Officer to make way for Mr. Pascale. William M. Mitchell, M.D., Ph.D., has been elected Chairman of the Board.

Dr. Mitchell, who has been an independent Director since July 1998, is Professor of Pathology, Microbiology and Immunology at Vanderbilt University School of Medicine and is a board certified physician. David R. Strayer, M.D., has been elected Chief Scientific Officer. He has been the company's Medical Director since 1986.