Millenco Raises Stake in ArQule (ARQL) to 6.3%

In a 13D filing Friday afternoon on ArQule Inc. (Nasdaq: ARQL), Millenco disclosed a 6.3% stake (2,250,324 shares) in the company. This is up from the 1,359,524 share stake the firm held for the quarter ended December 31, 2006.

In a pretty standard disclosure, Millenco said from time to time they may hold discussions with third parties or with management with respect to potential changes in the operations, management or capital structure of such companies as a means of enhancing shareholder value. The firm does not have any present plans or proposals that relate to or would result in any of the actions required to be described in Item 4 of Schedule 13D.