<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Item 1
Financial Statements 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>                                      11,932,041
<SECURITIES>                                10,344,261
<RECEIVABLES>                                  433,895
<ALLOWANCES>                                    71,896
<INVENTORY>                                          0
<CURRENT-ASSETS>                            23,409,131
<PP&E>                                       3,564,950
<DEPRECIATION>                               1,092,504
<TOTAL-ASSETS>                              26,029,893
<CURRENT-LIABILITIES>                        3,531,077
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                  22,498,816
<TOTAL-LIABILITY-AND-EQUITY>                26,029,893
<SALES>                                        807,357
<TOTAL-REVENUES>                                     0
<CGS>                                          453,195
<TOTAL-COSTS>                                6,367,780
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                      0
<INCOME-TAX>                               (5,226,099)
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (5,226,099)
<EPS-PRIMARY>                                    (.56)
<EPS-DILUTED>                                    (.56)