WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

  

<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from
Circa Pharmaceuticals, Inc. consolidated financial statements for the
quarter ended September 30, 1994 and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
       
                             
<PERIOD-TYPE>                   QTR-3
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-END>                               SEP-30-1994
<CASH>                                      11,770,285
<SECURITIES>                                25,822,621
<RECEIVABLES>                                  636,587
<ALLOWANCES>                                         0
<INVENTORY>                                  1,701,490
<CURRENT-ASSETS>                            50,428,673
<PP&E>                                      12,507,487
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                             106,333,313
<CURRENT-LIABILITIES>                        9,838,517
<BONDS>                                              0
<COMMON>                                       220,792
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                  76,071,541
<TOTAL-LIABILITY-AND-EQUITY>               106,333,313
<SALES>                                      1,320,178
<TOTAL-REVENUES>                             1,320,178
<CGS>                                          643,951
<TOTAL-COSTS>                                5,947,132
<OTHER-EXPENSES>                                18,555
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                              3,708,904
<INCOME-TAX>                                   110,000
<INCOME-CONTINUING>                          3,598,904
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 3,598,904
<EPS-PRIMARY>                                      .17
<EPS-DILUTED>                                      .17