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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington,
D.C.&#160; 20549</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;S-8</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">ARQULE, INC.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact Name of
registrant as specified in its charter)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delaware</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">58-1959440</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other
  jurisdiction of <br>
  incorporation or organization)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. Employer
  <br>
  Identification No.)</font></p>
  </td>
 </tr>
</table>

</div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">19
Presidential Way,</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Woburn,
Massachusetts 01801</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address,
including zip code, of principal executive offices)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ArQule,&nbsp;Inc.
Amended and Restated 1996 Director Stock Option Plan</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Full title of the
plan)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Stephen
A. Hill</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">President
and Chief Executive Officer</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ArQule,&nbsp;Inc.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">19
Presidential Way,</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Woburn,
Massachusetts 01801</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(781)
994-0300</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Name, address,
including zip code, and telephone number including area code, of agent for
service)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Copy to:</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Richard
E. Baltz,&nbsp;Esq.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Arnold&nbsp;&amp;
Porter LLP</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">555 12<sup>th</sup>
Street, N.W.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington,
D.C.&#160; 20004</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(202) 942-5124</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Calculation
of Registration Fee</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="1" cellspacing="0" cellpadding="0" width="100%" style="border:none;border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="32%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:32.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Title&nbsp;of&nbsp;securities&nbsp;to&nbsp;be<br>
  registered</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="12%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Amount&nbsp;to&nbsp;be<br>
  registered&nbsp;(1)</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="16%" colspan="2" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Proposed<br>
  maximum&nbsp;offering<br>
  price&nbsp;per&nbsp;unit&nbsp;(2)(3)</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="16%" colspan="2" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:16.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Proposed&nbsp;maximum<br>
  aggregate&nbsp;offering<br>
  price&nbsp;(3)</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.5%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:13.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Amount&nbsp;of&nbsp;<br>
  registration&nbsp;fee</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:1.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="32%" valign="top" style="border:none;border-bottom:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:32.0%;">
  <p align="center" style="margin:0in 0in .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Common Stock, $.01 par value</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:12.0%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">250,000</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.51</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="14%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:14.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,127,500.00</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:1.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="11%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:11.88%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">44.31</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 1.5pt;padding:0in 0in 0in 0in;width:1.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="239" style="border:none;"></td>
  <td width="19" style="border:none;"></td>
  <td width="90" style="border:none;"></td>
  <td width="19" style="border:none;"></td>
  <td width="8" style="border:none;"></td>
  <td width="111" style="border:none;"></td>
  <td width="19" style="border:none;"></td>
  <td width="8" style="border:none;"></td>
  <td width="111" style="border:none;"></td>
  <td width="19" style="border:none;"></td>
  <td width="8" style="border:none;"></td>
  <td width="89" style="border:none;"></td>
  <td width="7" style="border:none;"></td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 23.75pt;text-indent:-23.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>This registration statement covers 250,000
shares of common stock of the registrant, $0.01 par value (&#147;Common Stock&#148;), for
issuance in connection with ArQule,&nbsp;Inc. Amended and Restated 1996
Director Stock Option Plan.&#160; Pursuant
to Rule&nbsp;416, promulgated under the Securities Act of 1933, as amended, an
additional undeterminable number of shares of Common Stock is being registered
to cover any adjustment in the number of shares of Common Stock issuable
pursuant to the anti-dilution provisions of the Amended and Restated 1996
Director Stock Option Plan.</p>

<p style="margin:0in 0in .0001pt 23.75pt;text-indent:-23.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 23.75pt;text-indent:-23.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Calculated
on the basis of the average of the high and low sale prices of the Registrant&#146;s
Common Stock as reported on January&nbsp;14, 2008 on the Nasdaq Global Market
which date is within 5 business days prior to the date of the filing of this
Registration Statement.</p>

<p style="margin:0in 0in .0001pt 23.75pt;text-indent:-23.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 23.75pt;text-indent:-23.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Estimated
solely for the purpose of determining the registration fee in accordance with Rule&nbsp;457(h).</p>

<p style="margin:0in 0in .0001pt 23.75pt;text-indent:-23.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The prospectus which will
be part of this registration statement is a combined prospectus under SEC Rule&nbsp;429
intended to be used for the offering of (a)&nbsp;the shares of the Company&#146;s Common
Stock registered hereunder, and (b)&nbsp;the shares of the Company&#146;s Common
Stock remaining to be issued which have been previously registered by
Registration Statements on Form&nbsp;S-8 File Nos. 333-25369, 333-43046,
333-105297, 333-123911 and 333-128741.</font></p>

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<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXPLANATORY
NOTE AND INCORPORATION BY REFERENCE</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Registration Statement on Form&nbsp;S-8 is being filed by ArQule,&nbsp;Inc.,
a Delaware corporation (the &#147;Company&#148;), and relates to the registration of
250,000 additional securities of the Company&#146;s common stock, $.01 par value per
share (the &#147;Common Stock&#148;) relating to ArQule,&nbsp;Inc.&#146;s Amended and Restated
1996 Director Stock Option Plan (the &#147;Plan&#148;), which is already effective.&#160; In accordance with General Instruction E to Form&nbsp;S-8,
the contents of (i)&nbsp;the Company&#146;s Registration Statement on Form&nbsp;S-8
(File No.&nbsp;333-25369) filed with the Securities Exchange Commission (the &#147;SEC&#148;)
on April&nbsp;17, 1997, relating to the registration of 125,000 shares of the
Company&#146;s Common Stock authorized for issuance under the Plan, (ii)&nbsp;the
Company&#146;s Registration Statement on Form&nbsp;S-8 (File No.&nbsp;333-43046)
filed with the SEC on August&nbsp;4, 2000, relating to the registration of
65,500 shares of Common Stock authorized for issuance under the Plan, (iii)&nbsp;the
Company&#146;s Registration Statement on Form&nbsp;S-8 (File No.&nbsp;333-105297)
filed with the SEC on May&nbsp;15, 2003, relating to the registration of
100,000 shares of Common Stock authorized for issuance under the Plan, (iv)&nbsp;the
Company&#146;s Registration Statement on Form&nbsp;S-8 (File No.&nbsp;333-123911)
filed with the SEC on April&nbsp;7, 2005,&#160;
relating to the registration of 60,000 shares of Common Stock authorized
for issuance under the Plan, and (v)&nbsp;the Company&#146;s Registration Statement
on Form&nbsp;S-8 (File No.&nbsp;333-128741) filed with the SEC on September&nbsp;30,
2005, relating to the registration of 150,000 shares of Common Stock authorized
for issuance under the Plan, and are incorporated by reference in their
entirety in this Registration Statement.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PART&nbsp;II</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 3.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Incorporation
of Documents by Reference</u>.</b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We incorporate by
reference the following documents previously filed with the SEC under the
Securities and Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;).</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Our
Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2006 filed
with the SEC on March&nbsp;12, 2007.</p>

<p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Our
Quarterly Reports on Form&nbsp;10-Q for the period ended March&nbsp;31, 2007,
filed with the SEC on May&nbsp;10, 2007, Form&nbsp;10-Q for the period ended June&nbsp;30,
2007, filed with the SEC on August&nbsp;7, 2007, and Form&nbsp;10-Q for the
period ended September&nbsp;30, 2007, filed with the SEC on November&nbsp;6,
2007.</p>

<p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Our
Current Reports on Form&nbsp;8-K or 8-K/A filed with the SEC on January&nbsp;19,
2007; February&nbsp;1, 2007; March&nbsp;7, 2007; March&nbsp;28, 2007; April&nbsp;27,
2007; May&nbsp;29, 2007; June&nbsp;5, 2007; June&nbsp;7, 2007; June&nbsp;15,
2007; July&nbsp;17, 2007, October&nbsp;10, 2007; November&nbsp;19, 2007; December&nbsp;6,
2007; and January&nbsp;8, 2008.</p>

<p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
description of our common stock contained in our Registration Statement on Form&nbsp;8-A
filed with the SEC on September&nbsp;25, 1996, including any amendment or
report filed for the purpose of updating such description.</p>

<p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We also incorporate by reference all
documents that we file with the SEC under Sections&nbsp;13(a), 13(c), 14 and 15(d)&nbsp;of
the Exchange Act, before we file a post-effective amendment indicating that all
securities offered by this registration statement have been sold or
deregistering all securities remaining unsold.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">Any statement contained or
incorporated by reference in this registration statement shall be deemed to be
modified or superseded for purposes of this registration statement to the
extent that it is modified or superseded by any other statement in this
registration statement or in any subsequently filed document that is
incorporated by reference.&nbsp; Any statement modified in this manner shall
not be deemed to be a part of this registration statement, and any statement
superseded in this manner shall not be deemed to constitute a part of this
registration statement.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.58%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 8.</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><u><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;"><font style="text-decoration:none;">&nbsp;</font></font></u></b></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.08%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibits</font></u></b></p>
  </td>
 </tr>
 <tr>
  <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.58%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.08%;">
  <p style="margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit&nbsp;4</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.08%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ArQule,&nbsp;Inc.
  Amended and Restated 1996 Director Stock Option Plan, as amended </font>(incorporated by reference from Appendix A
  to the Company&#146;s Definitive Proxy Statement on Schedule 14A for the 2007
  Annual Meeting of Stockholders, as filed with the SEC on
  April&nbsp;16,&nbsp;2007).</p>
  </td>
 </tr>
 <tr>
  <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit&nbsp;5</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Opinion of Robert J.
  Connaughton,&nbsp;Jr., filed herewith.</font></p>
  </td>
 </tr>
 <tr>
  <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.58%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.58%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit&nbsp;23.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.08%;">
  <p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent
  of Robert J. Connaughton,&nbsp;Jr., included in the opinion filed as
  Exhibit&nbsp;5 hereto.</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II-1</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit&nbsp;23.2</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of
  PricewaterhouseCoopers LLP, independent registered public accounting firm,
  filed herewith.</font></p>
  </td>
 </tr>
 <tr>
  <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit&nbsp;24</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Powers of Attorney of
  certain officers and directors of ArQule,&nbsp;Inc. (included on the
  signature page&nbsp;to this Registration Statement).</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt 1.5in;text-indent:-1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:normal;margin:0in 0in .0001pt .5in;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 9.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><u><font size="2" style="font-size:10.0pt;font-weight:bold;">Undertakings</font></u></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">.</font></b></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
undersigned registrant hereby undertakes:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
include any prospectus required by section 10(a)(3)&nbsp;of the Securities Act
of 1933;</p>

<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(ii)</font><font size="1" style="font-size:8.5pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To reflect in the
prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof)
which, individually or in the aggregate, represent a fundamental change in the
information set forth in the registration statement; and</p>

<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(iii)</font><font size="1" style="font-size:8.5pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="letter-spacing:-.1pt;">To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any
material change to such information in the registration statement;</font></p>

<p style="margin:0in 0in .0001pt 1.5in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">provided, however,</font></i>
that paragraphs (a)(1)(i)&nbsp;and (a)(1)(ii)&nbsp;shall not apply to
information required to be included in a post-effective amendment by those
paragraphs and which is contained in periodic reports filed by the registrant
pursuant to Section 13 or Section 15(d)&nbsp;of the Securities Exchange Act of
1934 that are incorporated by reference in the registration statement.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(2)</font><font size="1" style="font-size:8.5pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>That, for the purpose
of determining any liability under the Securities Act of 1933, each such
post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.</p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(3)</font><font size="1" style="font-size:8.5pt;letter-spacing:-.1pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="letter-spacing:-.1pt;">To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.</font></p>

<p style="margin:0in 0in .0001pt 1.0in;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;letter-spacing:-.1pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font>The undersigned registrant hereby undertakes that, for purposes
of determining any liability under the Securities Act of 1933, each filing of
the registrant&#146;s annual report pursuant to Section 13(a)&nbsp;or Section 15(d)&nbsp;of
the Securities Exchange Act of 1934 that is incorporated by reference in the
registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II-2</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Insofar as indemnification for liabilities arising under the Securities Act of
1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Securities
Act of 1933 and is, therefore, unenforceable. &nbsp;In the event that a claim
for indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act of 1933 and will be governed by the final adjudication of such
issue.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II-3</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div>

<p style="margin:0in 0in .0001pt 1.5in;text-indent:-1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the
requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for
filing on Form&nbsp;S-8 and has duly caused this registration statement to be
signed on its behalf by the undersigned, thereunto duly authorized, in the City of Woburn, Commonwealth of
Massachusetts, on January&nbsp;17, 2008.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in .7in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in .7in .0001pt 0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARQULE,
  INC.</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in .7in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in .7in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in .7in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in .7in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in .7in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:38.2%;">
  <p style="margin:0in .7in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;/s/ Stephen A. Hill</font></p>
  </td>
  <td width="8%" valign="top" style="padding:0in 0in 0in 0in;width:8.88%;">
  <p style="margin:0in .7in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in .7in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in .7in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stephen A. Hill</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in .5in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in .5in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President and Chief
  Executive Officer</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in .5in .0001pt 3.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements
of the Securities Act of 1933, this registration statement has been signed by
the following persons in the capacities and on the dates indicated.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">POWER OF ATTORNEY</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">KNOW
ALL PERSONS BY THESE PRESENTS that each person whose signature appears below
constitutes and appoints, jointly and severally, Stephen A. Hill and Peter&#160; S. Lawrence, his or her true and lawful
attorney-in-fact and agents, each with full power of substitution, for him or
her and in his or her name, place and stead, in any and all capacities, to sign
any and all amendments, including post-effective amendments, to this
registration statement, and to file the same, with all exhibits thereto and all
other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, and each of them,
full power and authority to do and perform each and every act and thing
requisite and necessary to be done in and about the premises, as fully to all
intents and purposes as he or she might or could do in person, hereby ratifying
and confirming all that each of said attorneys-in-fact and agents or any of
them, or his or their substitute or substitutes, may lawfully do or cause to be
done or by virtue thereof.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="27%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:27.78%;">
  <p style="margin:0in -.05in .0001pt 0in;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">SIGNATURE:</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.48%;">
  <p style="margin:0in -.05in .0001pt 0in;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="36%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:36.48%;">
  <p align="center" style="margin:0in -.05in .0001pt 0in;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">TITLE:</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.74%;">
  <p style="margin:0in -.05in .0001pt 0in;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.9%;">
  <p align="center" style="margin:0in -.05in .0001pt 0in;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">DATE:</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.64%;">
  <p style="margin:0in -.05in .0001pt 0in;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.26%;">
  <p style="margin:0in -.05in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in -.05in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in -.05in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.26%;">
  <p style="margin:0in -.05in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in -.05in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in -.05in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="17%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.9%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Stephen A. Hill</font></p>
  </td>
  <td width="12%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:12.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President and Chief</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January&nbsp;17, 2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Stephen A. Hill</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executive Officer and
  Director</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Principal Executive
  Officer)</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="17%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.9%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Peter S. Lawrence</font></p>
  </td>
  <td width="12%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:12.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Executive Vice
  President and</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January&nbsp;17, 2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Peter S. Lawrence</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Operating Officer</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Principal Financial
  Officer)</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="17%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.9%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Robert J. Weiskopf</font></p>
  </td>
  <td width="12%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:12.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President,
  Finance,</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January&nbsp;17, 2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Robert J. Weiskopf</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Controller&nbsp;&amp;
  Treasurer</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Principal Accounting
  Officer)</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="17%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.9%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Timothy C. Barabe</font></p>
  </td>
  <td width="12%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:12.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January&nbsp;17, 2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Timothy C. Barabe</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="17%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.9%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Ronald M. Lindsay</font></p>
  </td>
  <td width="12%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:12.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January&nbsp;17, 2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ronald M. Lindsay</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="134" style="border:none;"></td>
  <td width="74" style="border:none;"></td>
  <td width="19" style="border:none;"></td>
  <td width="273" style="border:none;"></td>
  <td width="20" style="border:none;"></td>
  <td width="216" style="border:none;"></td>
  <td width="12" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II-4</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="99%" style="border-collapse:collapse;width:99.76%;">
 <tr>
  <td width="27%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:27.74%;">
  <p style="margin:0in -.05in .0001pt 0in;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">SIGNATURE:</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.5%;">
  <p style="margin:0in -.05in .0001pt 0in;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="36%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:36.48%;">
  <p align="center" style="margin:0in -.05in .0001pt 0in;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">TITLE:</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.82%;">
  <p align="center" style="margin:0in -.05in .0001pt 0in;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="28%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:28.8%;">
  <p align="center" style="margin:0in -.05in .0001pt 0in;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">DATE:</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.66%;">
  <p align="center" style="margin:0in -.05in .0001pt 0in;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.24%;">
  <p style="margin:0in -.05in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.3%;">
  <p style="margin:0in -.05in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.46%;">
  <p style="margin:0in -.05in .0001pt 0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:19.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Michael D. Loberg</font></p>
  </td>
  <td width="10%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:10.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January&nbsp;17, 2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Michael D. Loberg</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:19.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ William G.
  Messenger</font></p>
  </td>
  <td width="10%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:10.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January&nbsp;17, 2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">William G. Messenger</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:19.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Nancy A. Simonian</font></p>
  </td>
  <td width="10%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:10.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January&nbsp;17, 2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nancy A. Simonian</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:19.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Patrick A. Zenner</font></p>
  </td>
  <td width="10%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:10.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">January&nbsp;17, 2008</font></p>
  </td>
 </tr>
 <tr>
  <td width="30%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:30.24%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Patrick J. Zenner</font></p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:39.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:30.46%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="148" style="border:none;"></td>
  <td width="59" style="border:none;"></td>
  <td width="19" style="border:none;"></td>
  <td width="272" style="border:none;"></td>
  <td width="21" style="border:none;"></td>
  <td width="215" style="border:none;"></td>
  <td width="12" style="border:none;"></td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">II-5</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">INDEX TO
EXHIBITS</font></u></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit&nbsp;4</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.88%;">
  <p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ArQule,&nbsp;Inc.
  Amended and Restated 1996 Director Stock Option Plan </font>(incorporated by reference from Appendix A
  to the Company&#146;s Definitive Proxy Statement on Schedule 14A for the 2007
  Annual Meeting of Stockholders, as filed with the SEC on
  April&nbsp;16,&nbsp;2007).</p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit&nbsp;5</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Opinion of Robert J.
  Connaughton,&nbsp;Jr., filed herewith.</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit&nbsp;23.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Robert J.
  Connaughton,&nbsp;Jr., included in the opinion filed as Exhibit&nbsp;5
  hereto.</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit&nbsp;23.2</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of
  PricewaterhouseCoopers LLP, independent registered public accounting firm,
  filed herewith.</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="15%" valign="top" style="padding:0in 0in 0in 0in;width:15.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit&nbsp;24</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="81%" valign="top" style="padding:0in 0in 0in 0in;width:81.88%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Powers of Attorney of
  certain officers and directors of ArQule,&nbsp;Inc. (included on the
  signature page&nbsp;to this Registration Statement).</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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{"company-data": {"conformed-name": "ARQULE INC", "cik": "0001019695", "assigned-sic": "2834", "irs-number": "043221586", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-148793", "film-number": "08542530"}, "business-address": {"street1": "19 PRESIDENTIAL WAY", "city": "WOBURN", "state": "MA", "zip": "01801", "phone": "781-994-0300"}, "mail-address": {"street1": "19 PRESIDENTIAL WAY", "city": "WOBURN", "state": "MA", "zip": "01801"}}
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C.  20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
ARQULE, INC.
(Exact Name of
registrant as specified in its charter)
Delaware
58-1959440
(State or other
  jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
19
Presidential Way,
Woburn,
Massachusetts 01801
(Address,
including zip code, of principal executive offices)
ArQule, Inc.
Amended and Restated 1996 Director Stock Option Plan
(Full title of the
plan)
Stephen
A. Hill
President
and Chief Executive Officer
ArQule, Inc.
19
Presidential Way,
Woburn,
Massachusetts 01801
(781)
994-0300
(Name, address,
including zip code, and telephone number including area code, of agent for
service)
Copy to:
Richard
E. Baltz, Esq.
Arnold &
Porter LLP
555 12
th
Street, N.W.
Washington,
D.C.  20004
(202) 942-5124
Calculation
of Registration Fee
Title of securities to be
registered
Amount to be
registered (1)
Proposed
maximum offering
price per unit (2)(3)
Proposed maximum
aggregate offering
price (3)
Amount of
registration fee
Common Stock, $.01 par value
250,000
$
4.51
$
1,127,500.00
$
44.31
(1)
This registration statement covers 250,000
shares of common stock of the registrant, $0.01 par value ("Common Stock"), for
issuance in connection with ArQule, Inc. Amended and Restated 1996
Director Stock Option Plan.  Pursuant
to Rule 416, promulgated under the Securities Act of 1933, as amended, an
additional undeterminable number of shares of Common Stock is being registered
to cover any adjustment in the number of shares of Common Stock issuable
pursuant to the anti-dilution provisions of the Amended and Restated 1996
Director Stock Option Plan.
(2)
Calculated
on the basis of the average of the high and low sale prices of the Registrant's
Common Stock as reported on January 14, 2008 on the Nasdaq Global Market
which date is within 5 business days prior to the date of the filing of this
Registration Statement.
(3)
Estimated
solely for the purpose of determining the registration fee in accordance with Rule 457(h).
The prospectus which will
be part of this registration statement is a combined prospectus under SEC Rule 429
intended to be used for the offering of (a) the shares of the Company's Common
Stock registered hereunder, and (b) the shares of the Company's Common
Stock remaining to be issued which have been previously registered by
Registration Statements on Form S-8 File Nos. 333-25369, 333-43046,
333-105297, 333-123911 and 333-128741.
EXPLANATORY
NOTE AND INCORPORATION BY REFERENCE
This Registration Statement on Form S-8 is being filed by ArQule, Inc.,
a Delaware corporation (the "Company"), and relates to the registration of
250,000 additional securities of the Company's common stock, $.01 par value per
share (the "Common Stock") relating to ArQule, Inc.'s Amended and Restated
1996 Director Stock Option Plan (the "Plan"), which is already effective.  In accordance with General Instruction E to Form S-8,
the contents of (i) the Company's Registration Statement on Form S-8
(File No. 333-25369) filed with the Securities Exchange Commission (the "SEC")
on April 17, 1997, relating to the registration of 125,000 shares of the
Company's Common Stock authorized for issuance under the Plan, (ii) the
Company's Registration Statement on Form S-8 (File No. 333-43046)
filed with the SEC on August 4, 2000, relating to the registration of
65,500 shares of Common Stock authorized for issuance under the Plan, (iii) the
Company's Registration Statement on Form S-8 (File No. 333-105297)
filed with the SEC on May 15, 2003, relating to the registration of
100,000 shares of Common Stock authorized for issuance under the Plan, (iv) the
Company's Registration Statement on Form S-8 (File No. 333-123911)
filed with the SEC on April 7, 2005, 
relating to the registration of 60,000 shares of Common Stock authorized
for issuance under the Plan, and (v) the Company's Registration Statement
on Form S-8 (File No. 333-128741) filed with the SEC on September 30,
2005, relating to the registration of 150,000 shares of Common Stock authorized
for issuance under the Plan, and are incorporated by reference in their
entirety in this Registration Statement.
2
PART II
INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation
of Documents by Reference
.
We incorporate by
reference the following documents previously filed with the SEC under the
Securities and Exchange Act of 1934, as amended (the "Exchange Act").
1.
Our
Annual Report on Form 10-K for the year ended December 31, 2006 filed
with the SEC on March 12, 2007.
2.
Our
Quarterly Reports on Form 10-Q for the period ended March 31, 2007,
filed with the SEC on May 10, 2007, Form 10-Q for the period ended June 30,
2007, filed with the SEC on August 7, 2007, and Form 10-Q for the
period ended September 30, 2007, filed with the SEC on November 6,
2007.
3.
Our
Current Reports on Form 8-K or 8-K/A filed with the SEC on January 19,
2007; February 1, 2007; March 7, 2007; March 28, 2007; April 27,
2007; May 29, 2007; June 5, 2007; June 7, 2007; June 15,
2007; July 17, 2007, October 10, 2007; November 19, 2007; December 6,
2007; and January 8, 2008.
4.
The
description of our common stock contained in our Registration Statement on Form 8-A
filed with the SEC on September 25, 1996, including any amendment or
report filed for the purpose of updating such description.
We also incorporate by reference all
documents that we file with the SEC under Sections 13(a), 13(c), 14 and 15(d) of
the Exchange Act, before we file a post-effective amendment indicating that all
securities offered by this registration statement have been sold or
deregistering all securities remaining unsold.
Any statement contained or
incorporated by reference in this registration statement shall be deemed to be
modified or superseded for purposes of this registration statement to the
extent that it is modified or superseded by any other statement in this
registration statement or in any subsequently filed document that is
incorporated by reference.  Any statement modified in this manner shall
not be deemed to be a part of this registration statement, and any statement
superseded in this manner shall not be deemed to constitute a part of this
registration statement.
Item 8.
Exhibits
Exhibit 4
ArQule, Inc.
  Amended and Restated 1996 Director Stock Option Plan, as amended
(incorporated by reference from Appendix A
  to the Company's Definitive Proxy Statement on Schedule 14A for the 2007
  Annual Meeting of Stockholders, as filed with the SEC on
  April 16, 2007).
Exhibit 5
Opinion of Robert J.
  Connaughton, Jr., filed herewith.
Exhibit 23.1
Consent
  of Robert J. Connaughton, Jr., included in the opinion filed as
  Exhibit 5 hereto.
II-1
Exhibit 23.2
Consent of
  PricewaterhouseCoopers LLP, independent registered public accounting firm,
  filed herewith.
Exhibit 24
Powers of Attorney of
  certain officers and directors of ArQule, Inc. (included on the
  signature page to this Registration Statement).
Item 9.
Undertakings
.
(a)           The
undersigned registrant hereby undertakes:
(1)
To
file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:
(i)
To
include any prospectus required by section 10(a)(3) of the Securities Act
of 1933;
(ii)
To reflect in the
prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof)
which, individually or in the aggregate, represent a fundamental change in the
information set forth in the registration statement; and
(iii)
To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any
material change to such information in the registration statement;
provided, however,
that paragraphs (a)(1)(i) and (a)(1)(ii) shall not apply to
information required to be included in a post-effective amendment by those
paragraphs and which is contained in periodic reports filed by the registrant
pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of
1934 that are incorporated by reference in the registration statement.
(2)
That, for the purpose
of determining any liability under the Securities Act of 1933, each such
post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
(3)
To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.
(b)
The undersigned registrant hereby undertakes that, for purposes
of determining any liability under the Securities Act of 1933, each filing of
the registrant's annual report pursuant to Section 13(a) or Section 15(d) of
the Securities Exchange Act of 1934 that is incorporated by reference in the
registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
II-2
(c)          
Insofar as indemnification for liabilities arising under the Securities Act of
1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Securities
Act of 1933 and is, therefore, unenforceable.  In the event that a claim
for indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act of 1933 and will be governed by the final adjudication of such
issue.
II-3
SIGNATURES
Pursuant to the
requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this registration statement to be
signed on its behalf by the undersigned, thereunto duly authorized, in the City of Woburn, Commonwealth of
Massachusetts, on January 17, 2008.
ARQULE,
  INC.
By:
/s/ Stephen A. Hill
Stephen A. Hill
President and Chief
  Executive Officer
Pursuant to the requirements
of the Securities Act of 1933, this registration statement has been signed by
the following persons in the capacities and on the dates indicated.
POWER OF ATTORNEY
KNOW
ALL PERSONS BY THESE PRESENTS that each person whose signature appears below
constitutes and appoints, jointly and severally, Stephen A. Hill and Peter  S. Lawrence, his or her true and lawful
attorney-in-fact and agents, each with full power of substitution, for him or
her and in his or her name, place and stead, in any and all capacities, to sign
any and all amendments, including post-effective amendments, to this
registration statement, and to file the same, with all exhibits thereto and all
other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, and each of them,
full power and authority to do and perform each and every act and thing
requisite and necessary to be done in and about the premises, as fully to all
intents and purposes as he or she might or could do in person, hereby ratifying
and confirming all that each of said attorneys-in-fact and agents or any of
them, or his or their substitute or substitutes, may lawfully do or cause to be
done or by virtue thereof.
SIGNATURE:
TITLE:
DATE:
/s/ Stephen A. Hill
President and Chief
January 17, 2008
Stephen A. Hill
Executive Officer and
  Director
(Principal Executive
  Officer)
/s/ Peter S. Lawrence
Executive Vice
  President and
January 17, 2008
Peter S. Lawrence
Chief Operating Officer
(Principal Financial
  Officer)
/s/ Robert J. Weiskopf
Vice President,
  Finance,
January 17, 2008
Robert J. Weiskopf
Controller &
  Treasurer
(Principal Accounting
  Officer)
/s/ Timothy C. Barabe
Director
January 17, 2008
Timothy C. Barabe
/s/ Ronald M. Lindsay
Director
January 17, 2008
Ronald M. Lindsay
II-4
SIGNATURE:
TITLE:
DATE:
/s/ Michael D. Loberg
Director
January 17, 2008
Michael D. Loberg
/s/ William G.
  Messenger
Director
January 17, 2008
William G. Messenger
/s/ Nancy A. Simonian
Director
January 17, 2008
Nancy A. Simonian
/s/ Patrick A. Zenner
Director
January 17, 2008
Patrick J. Zenner
II-5
INDEX TO
EXHIBITS
Exhibit 4
ArQule, Inc.
  Amended and Restated 1996 Director Stock Option Plan
(incorporated by reference from Appendix A
  to the Company's Definitive Proxy Statement on Schedule 14A for the 2007
  Annual Meeting of Stockholders, as filed with the SEC on
  April 16, 2007).
Exhibit 5
Opinion of Robert J.
  Connaughton, Jr., filed herewith.
Exhibit 23.1
Consent of Robert J.
  Connaughton, Jr., included in the opinion filed as Exhibit 5
  hereto.
Exhibit 23.2
Consent of
  PricewaterhouseCoopers LLP, independent registered public accounting firm,
  filed herewith.
Exhibit 24
Powers of Attorney of
  certain officers and directors of ArQule, Inc. (included on the
  signature page to this Registration Statement).