<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 MARCH 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                      11,505,873
<SECURITIES>                                 5,372,940
<RECEIVABLES>                                  492,951
<ALLOWANCES>                                         0
<INVENTORY>                                     12,586
<CURRENT-ASSETS>                            17,679,331
<PP&E>                                       6,276,893
<DEPRECIATION>                               3,331,384
<TOTAL-ASSETS>                              21,460,166
<CURRENT-LIABILITIES>                          739,391
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                 33,353,958
<COMMON>                                       116,054
<OTHER-SE>                                  32,642,741
<TOTAL-LIABILITY-AND-EQUITY>                21,460,166
<SALES>                                              0
<TOTAL-REVENUES>                               580,366
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                             2,776,877
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 301
<INCOME-PRETAX>                            (2,196,812)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (2,196,812)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (2,196,812)
<EPS-PRIMARY>                                   (0.25)
<EPS-DILUTED>                                        0