<ARTICLE> 5
       
                             
<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>