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Published on 3/13/2008 in the Prospect News Special Situations Daily.

Biotechnology Value Fund affiliates report 23.3% stake in ArQule

By Laura Lutz

Des Moines, March 13 - Affiliates of Biotechnology Value Fund, LP reported ownership of 10,162,060 shares, or 23.3%, of the common stock of ArQule, Inc. in a schedule 13D filing with the Securities and Exchange Commission.

Between Jan. 10 and March 10, the investors acquired 4,156,510 shares of ArQule at prices ranging from $3.10 to $5.10.

ArQule is a biotechnology company based in Woburn, Mass.


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