FINANCIAL DATA SCHEDULE

<TABLE> <S> <C>

<ARTICLE> 5

<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> MAR-31-1998
<CASH> 5,154,194
<SECURITIES> 18,466,433
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 24,165,376
<PP&E> 3,686,985
<DEPRECIATION> 1,938,173
<TOTAL-ASSETS> 25,954,855
<CURRENT-LIABILITIES> 9,233,571
<BONDS> 0
<PREFERRED-MANDATORY> 0
<PREFERRED> 0
<COMMON> 34,939,884
<OTHER-SE> (19,622,628)
<TOTAL-LIABILITY-AND-EQUITY> 25,954,855
<SALES> 0
<TOTAL-REVENUES> 1,700,000
<CGS> 0
<TOTAL-COSTS> 5,206,630
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> (54,113)
<INCOME-PRETAX> (3,266,692)
<INCOME-TAX> 0
<INCOME-CONTINUING> (3,266,692)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (3,266,692)
<EPS-PRIMARY> (0.38)<F1>
<EPS-DILUTED> (0.38)
<FN>
<F1>FOR THE PURPOSE OF THIS FINANCIAL DATA SCHEDULE, PRIMARY IS BASIC
</FN>


</TABLE>