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Filing Details

Accession Number:: 0000921895-18-001405
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2018-04-20 18:34:13
Reporting Period:: 2018-04-18

Accepted Time:: 2018-04-20 18:34:13
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1019695	Arqule Inc	ARQL	Investment Advice (6282)	DE

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
918923	P L Fund Value Biotechnology	1 Sansome St 30Th Fl San Francisco CA 94104	No	No	No	Yes
1055947	P/Il L Partners Bvf	1 Sansome St 30Th Fl San Francisco CA 94104	No	No	Yes	No
1056807	Bvf Inc/Il	1 Sansome St 30Th Fl San Francisco CA 94104	No	No	Yes	No
1102444	Biotechnology Value Fund Ii Lp	1 Sansome St 30Th Fl San Francisco CA 94104	No	No	No	Yes
1233840	N Mark Lampert	1 Sansome St 30Th Fl San Francisco CA 94104	No	No	Yes	No
1660683	Biotechnology Value Trading Fund Os Lp	P.o. Box 309 Ugland House Grand Cayman E9 KY1-1104	No	No	No	Yes
1660684	Ltd. Os Partners Bvf	P.o. Box 309 Ugland House Grand Cayman E9 KY1-1104	No	No	No	Yes

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock, $0.01 Par Value Per Share	Disposition	2018-04-18	1,204,668	$3.10	5,230,529	No	4	S	Direct
Common Stock, $0.01 Par Value Per Share	Disposition	2018-04-18	808,449	$3.10	3,498,310	No	4	S	Direct
Common Stock, $0.01 Par Value Per Share	Disposition	2018-04-18	217,256	$3.10	947,118	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock, $0.01 Par Value Per Share	Warrants	$1.75	2021-10-11	1,201,053	1,201,053	Direct
Common Stock, $0.01 Par Value Per Share	Warrants	$1.75	2021-10-11	823,231	823,231	Direct
Common Stock, $0.01 Par Value Per Share	Warrants	$1.75	2021-10-11	199,687	199,687	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2021-10-11	1,201,053	1,201,053	Direct
2021-10-11	823,231	823,231	Direct
2021-10-11	199,687	199,687	Direct

Footnotes

This Form 4 is filed jointly by Biotechnology Value Fund, L.P. ("BVF"), Biotechnology Value Fund II, L.P. ("BVF2"), Biotechnology Value Trading Fund OS LP ("Trading Fund OS"), BVF Partners OS Ltd. ("Partners OS"), BVF Partners L.P. ("Partners"), BVF Inc. and Mark N. Lampert (collectively, the "Reporting Persons"). Each of the Reporting Persons is a member of a Section 13(d) group that collectively owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
Securities owned directly by BVF. As the general partner of BVF, Partners may be deemed to beneficially own the securities owned directly by BVF. As the investment adviser and general partner of Partners, BVF Inc. may be deemed to beneficially own the securities owned directly by BVF. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the securities owned directly by BVF.
Securities owned directly by BVF2. As the general partner of BVF2, Partners may be deemed to beneficially own the securities owned directly by BVF2. As the investment adviser and general partner of Partners, BVF Inc. may be deemed to beneficially own the securities owned directly by BVF2. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the securities owned directly by BVF2.
Securities owned directly by Trading Fund OS. As the general partner of Trading Fund OS, Partners OS may be deemed to beneficially own the securities owned directly by Trading Fund OS. As the investment manager of Trading Fund OS and the sole member of Partners OS, Partners may be deemed to beneficially own the securities owned directly by Trading Fund OS. As the investment adviser and general partner of Partners, BVF Inc. may be deemed to beneficially own the securities owned directly by Trading Fund OS. As a director and officer of BVF Inc., Mr. Lampert may be deemed to beneficially own the securities owned directly by Trading Fund OS.
The Warrants are currently exercisable, for $1.75 per share, subject to adjustment pursuant to the terms of the Warrants and expire on October 11, 2021. The Warrants may not be exercised if, after such exercise, the Reporting Persons would beneficially own, as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended ("Section 13(d)"), more than 19.9% of the shares of Common Stock outstanding immediately after giving effect to such exercise.