<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JUL-01-1995
<PERIOD-END>                               SEP-30-1995
<CASH>                                      11,889,104
<SECURITIES>                                26,648,494
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            39,041,402
<PP&E>                                       8,390,452
<DEPRECIATION>                               3,049,438
<TOTAL-ASSETS>                              44,942,185
<CURRENT-LIABILITIES>                          837,420
<BONDS>                                              0
<COMMON>                                    82,449,539
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                  38,471,429<F1>
<TOTAL-LIABILITY-AND-EQUITY>                44,942,185
<SALES>                                              0
<TOTAL-REVENUES>                               684,382
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                             2,064,912
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                            (1,380,530)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (1,380,530)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (1,380,530)
<EPS-PRIMARY>                                   (0.11)
<EPS-DILUTED>                               13,118,495
<FN>
<F1>This represents deficit accumulated during development stage and unearned
compensation
</FN>