<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 SEPTEMBER 30, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                       3,757,680
<SECURITIES>                                 8,898,829
<RECEIVABLES>                                  153,773
<ALLOWANCES>                                         0
<INVENTORY>                                     14,889
<CURRENT-ASSETS>                            13,036,939
<PP&E>                                       5,851,579
<DEPRECIATION>                               2,676,394
<TOTAL-ASSETS>                              17,008,674
<CURRENT-LIABILITIES>                          978,908
<BONDS>                                              0
<PREFERRED-MANDATORY>                          113,252
<PREFERRED>                                          0
<COMMON>                                    23,750,954
<OTHER-SE>                                  31,018,064
<TOTAL-LIABILITY-AND-EQUITY>                17,024,108
<SALES>                                              0
<TOTAL-REVENUES>                             1,973,016
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                             7,890,658
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                            (5,917,642)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (5,917,642)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (5,917,642)
<EPS-PRIMARY>                                   (0.70)
<EPS-DILUTED>                                        0