<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS INCLUDED IN THE REGISTRANTS QUARTERLY REPORT ON FORM 10-Q
FOR THE QUARTER ENDED JUNE 30, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               JUN-30-1996
<CASH>                                       4,351,827
<SECURITIES>                                10,432,341
<RECEIVABLES>                                  110,847
<ALLOWANCES>                                         0
<INVENTORY>                                     15,144
<CURRENT-ASSETS>                            15,331,627
<PP&E>                                       5,641,802
<DEPRECIATION>                               2,414,674
<TOTAL-ASSETS>                              19,314,373
<CURRENT-LIABILITIES>                        1,232,948
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                 23,128,199
<COMMON>                                       113,094
<OTHER-SE>                                  31,056,936
<TOTAL-LIABILITY-AND-EQUITY>                19,314,373
<SALES>                                              0
<TOTAL-REVENUES>                               881,507
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                             5,181,537
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                            (3,823,984)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (3,823,984)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (3,823,984)
<EPS-PRIMARY>                                   (0.46)
<EPS-DILUTED>                                        0