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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
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ARQULE INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
04269E 10 7
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(CUSIP Number)
FEBRUARY 8, 2000
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
/ / Rule 13d-1(b)
/X/ Rule 13d-1(c)
/ / Rule 13d-1(d)
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1 The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
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CUSIP No. 04269E 10 7 13G Page 2 of 8 Pages
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(1) Names of Reporting Persons.
BIOTECHNOLOGY VALUE FUND, L.P.
I.R.S. Identification Nos. of above persons (entities only).
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
DELAWARE
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Number of Shares (5) Sole Voting Power
Beneficially 0
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: 638,371
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(7) Sole Dispositive Power
0
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(8) Shared Dispositive Power
638,371
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
638,371
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(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) / /
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(11) Percent of Class Represented by Amount in Row (9)
5.0%
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(12) Type of Reporting Person (See Instructions)
PN
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CUSIP No. 04269E 10 7 13G Page 3 of 8 Pages
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(1) Names of Reporting Persons.
BIOTECHNOLOGY VALUE FUND II, L.P.
I.R.S. Identification Nos. of above persons (entities only).
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
DELAWARE
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Number of Shares (5) Sole Voting Power
Beneficially 0
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: 1,253,234
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(7) Sole Dispositive Power
0
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(8) Shared Dispositive Power
1,253,234
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
1,253,234
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(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) / /
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(11) Percent of Class Represented by Amount in Row (9)
9.8%
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(12) Type of Reporting Person (See Instructions)
PN
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CUSIP No. 04269E 10 7 13G Page 4 of 8 Pages
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(1) Names of Reporting Persons.
BVF PARTNERS L.P.
I.R.S. Identification Nos. of above persons (entities only).
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
DELAWARE
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Number of Shares (5) Sole Voting Power
Beneficially 0
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: 1,976,005
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(7) Sole Dispositive Power
0
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(8) Shared Dispositive Power
1,976,005
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
1,976,005
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(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) / /
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(11) Percent of Class Represented by Amount in Row (9)
15.4%
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(12) Type of Reporting Person (See Instructions)
PN
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CUSIP No. 04269E 10 7 13G Page 5 of 8 Pages
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(1) Names of Reporting Persons.
BVF INC.
I.R.S. Identification Nos. of above persons (entities only).
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
DELAWARE
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Number of Shares (5) Sole Voting Power
Beneficially 0
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: 1,976,005
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(7) Sole Dispositive Power
0
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(8) Shared Dispositive Power
1,976,005
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
1,976,005
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(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) / /
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(11) Percent of Class Represented by Amount in Row (9)
15.4%
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(12) Type of Reporting Person (See Instructions)
IA, CO
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CUSIP No. 04269E 10 7 13G Page 6 of 8 Pages
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ITEM 1.
(a) Name of Issuer
Arqule Inc. ("Arqule")
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(b) Address of Issuer's Principal Executive Offices
200 Boston Avenue
Medford, MA 02155
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ITEM 2.
(a) Name of Person Filing
This Amendment to Schedule 13G is being filed on behalf of the
following persons*:
(i) Biotechnology Value Fund, L.P. ("BVF")
(ii) Biotechnology Value Fund II, L.P. ("BVF2")
(iii) BVF Partners L.P. ("Partners")
(iv) BVF Inc. ("BVF Inc.")
* Attached as Exhibit A is a copy of an agreement among the
persons filing (as specified hereinabove) that this
Amendment to Schedule 13G is being filed on behalf of each
of them.
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(b) Address of Principal Business Office or, if none, Residence
The principal business office of the persons comprising the group
filing this Amendment to Schedule 13G is located at 227 West Monroe
Street, Suite 4800, Chicago, Illinois, 60606
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(c) Citizenship
BVF: a Delaware limited partnership
BVF2: a Delaware limited partnership
Partners: a Delaware limited partnership
BVF Inc.: a Delaware corporation
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(d) Title of Class of Securities
Common Stock, par value $.01.
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(e) CUSIP Number
04269E 10 7
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CUSIP No. 04269E 10 7 13G Page 7 of 8 Pages
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS 240.13d-1(b) OR
240 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS: ONE OF
THE FOLLOWING:
Not applicable as this Amendment to Schedule 13G is filed pursuant
to Rule 13d 1(c).
ITEM 4. OWNERSHIP
The information in items 1 and 5 through 11 on the cover pages (pp.
2-5) on this Amendment to Schedule 13G is hereby incorporated by reference.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following. / /
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
BVF shares voting and dispositive power over the shares of the
common stock it beneficially owns with Partners. BVF2 also shares voting and
dispositive power over the shares of the common stock it beneficially owns
with Partners. Partners and BVF Inc. share voting and dispositive power over
the shares of the common stock they beneficially own with, in addition to BVF
and BFVF2, certain managed accounts on whose behalf Partners, as investment
manager, purchased such shares. None of the managed accounts individually
owns more than 5% of the common stock of Arqule.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable.
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CUSIP No. 04269E 10 7 13G Page 8 of 8 Pages
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ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held in the
ordinary course of business and were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete
and correct.
Dated: February 10, 2000
BIOTECHNOLOGY VALUE FUND, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ Mark N. Lampert
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Mark N. Lampert
President
BIOTECHNOLOGY VALUE FUND II, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ Mark N. Lampert
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Mark N. Lampert
President
BVF PARTNERS L.P.
By: BVF Inc., its general partner
By: /s/ Mark N. Lampert
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Mark N. Lampert
President
BVF INC.
By: /s/ Mark N. Lampert
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Mark N. Lampert
President
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EXHIBIT A
AGREEMENT REGARDING JOINT FILING
The undersigned, Biotechnology Value Fund, L.P., a Delaware limited
partnership, Biotechnology Value Fund II, L.P., a Delaware limited
partnership, BVF Partners L.P., a Delaware limited partnership, and BVF Inc.,
a Delaware corporation, hereby agree and acknowledge that the information
required by the Amendment to Schedule 13G, to which this Agreement is
attached as an exhibit, is filed on behalf of each of them. The undersigned
further agree that any further amendments or supplements thereto shall also
be filed on behalf of each of them.
Dated: February 10, 2000
BIOTECHNOLOGY VALUE FUND, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ Mark N. Lampert
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Mark N. Lampert
President
BIOTECHNOLOGY VALUE FUND II, L.P.
By: BVF Partners L.P., its general partner
By: BVF Inc., its general partner
By: /s/ Mark N. Lampert
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Mark N. Lampert
President
BVF PARTNERS L.P.
By: BVF Inc., its general partner
By: /s/ Mark N. Lampert
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Mark N. Lampert
President
BVF INC.
By: /s/ Mark N. Lampert
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Mark N. Lampert
President
