One day following news that sent it’s share price up nearly 15 percent, Dara BioSciences shuffled up the executive suites by hiring a new CEO and bumping the former CEO to executive chairman.

The new chief executive, Christopher G. Clement, 59, was the former chief operating officer and he takes over the new position immediately. The former CEO, Dr. David Drutz, 76, also worked as the chief medical officer and will keep that title in addition to his new role as executive chairman.

On Monday,…