FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940	OMB APPROVAL OMB Number:        3235-0104 Expires: January 31, 2005 Estimated average burden hours per response .... 0.5
(Print or Type Responses)

1.	Name and Address of Reporting Person*			2.	Date of Event Requiring Statement (Month/Day/Year)	4.	Issuer Name and Ticker or Trading Symbol
	BVF Partners L.P.				February 25, 2003		ArQule, Inc. ("ARQL")
	(Last)	(First)	(Middle)	3.	I.R.S. Identification Number of Reporting Person, if an entity (voluntary)	5.	Relationship of Reporting Person(s) to Issuer (Check all applicable)		6.	If Amendment, Date of Original (Month/Day/Year)
227 West Monroe Street, Suite 4800						Director		X   10% Owner
(Street)						Officer               (give title               below)		Other               (specify               below)
									7.	Individual or Joint/Group Filing
Chicago, Illinois 60606										(Check Applicable Line)
	(City)	(State)	(Zip)							Form filed by One Reporting Person     X     Form filed by More than One Reporting Person

Table I — Non-Derivative Securities Beneficially Owned

1.	Title of Security (Instr. 4)	2.	Amount of Securities Beneficially Owned (Instr. 4)	3.	Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4.	Nature of Indirect Beneficial Ownership (Instr. 5)
	Common Stock		2,385,423		(1)		(1)

*If the form is filed by more than one reporting person, see Instruction 5(b)(v).

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

(Print or type Responses)

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FORM 3 (Continued) Table II — Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1.

Title of Derivative Security (Instr. 4)

2.

Date Exercisable and Expiration Date (Month/Day/Year)

3.

Title and Amount of Securities Underlying Derivative Security (Instr. 4)

4.

Conversion or Exercise Price of Derivative Security

5.

Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)

6.

Nature of Indirect Beneficial Ownership (Instr. 5)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Explanation of Responses:

(1) The shares reported in this response are beneficially owned by BVF Partners L.P., a Delaware limited partnership ("Partners"), the designated filer of this joint filing on Form 3, and by its general partner, BVF Inc., a Delaware corporation ("BVF Inc."), which is also an investment advisor to Partners. Partners is the general partner of Biotechnology Value Fund, L.P., a Delaware limited partnership ("BVF, L.P."), an investment limited partnership that beneficially owns 717,623 of the shares of Common Stock reported in Table I. Partners is also the general partner of Biotechnology Value Fund II, L.P., a Delaware limited partnership ("BVF2"), an investment limited partnership which beneficially owns 499,000 of the shares of Common Stock reported in Table I. Partners is the manager of BVF Investments, L.L.C., a Delaware limited liability company ("Investments"), which beneficially owns 1,168,800 of the shares of Common Stock reported in Table I. Pursuant to the operating agreement of Investments, Partners is authorized, among other things, to invest the funds of Ziff Asset Management, L.P., the majority member of Investments, in the shares of Common Stock reported in Table I as being beneficially owned by Investments. Mark N. Lampert is the sole shareholder and sole director of BVF Inc., and is an officer of BVF Inc. This joint filing on Form 3 shall not be deemed an admission that Mark N. Lampert is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of any equity securities covered by this joint filing.

BVF Partners L.P.
By:	BVF Inc., its general partner
By:	/s/ MARK N. LAMPERT	February 28, 2003
	**Signature of Reporting Person	Date

**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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FORM 3 (Continued) List of the names and addresses of other reporting persons:

1.	Biotechnology Value Fund, L.P.	BIOTECHNOLOGY VALUE FUND, L.P.
	227 West Monroe Street, Suite 4800
	Chicago, Illinois 60606	By:	BVF Partners L.P., its general partner
			By:	BVF Inc., its general partner
				By:	/s/  MARK N. LAMPERT **Signature of Reporting Person     Authorized Signatory	February 28, 2003 Date
2.	Biotechnology Value Fund II, L.P.	BIOTECHNOLOGY VALUE FUND II, L.P.
	227 West Monroe Street, Suite 4800
	Chicago, Illinois 60606	By:	BVF Partners L.P., its general partner
			By:	BVF Inc., its general partner
				By:	/s/  MARK N. LAMPERT **Signature of Reporting Person     Authorized Signatory	February 28, 2003 Date
3.	BVF Investments, L.L.C.	BVF INVESTMENTS, L.L.C.
	227 West Monroe Street, Suite 4800
	Chicago, Illinois 60606	By:	BVF Partners L.P., its manager
			By:	BVF Inc., its general partner
				By:	/s/  MARK N. LAMPERT **Signature of Reporting Person     Authorized Signatory	February 28, 2003 Date
4.	BVF Inc.	BVF INC.
	One Sansome Street, 31st Floor
	San Francisco, California 94104	By:	/s/  MARK N. LAMPERT **Signature of Reporting Person     Authorized Signatory			February 28, 2003 Date
5.	Mark N. Lampert One Sansome Street, 31st Floor San Francisco, California 94104	By:	/s/  MARK N. LAMPERT **Signature of Reporting Person     Authorized Signatory			February 28, 2003 Date

**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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