WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

  



                                  OXiGENE, INC.

                          Quarterly Report on Form 10-Q
                   for the Fiscal Quarter Ended March 31, 1998

                                    Exhibits



Exhibit
Number                              Description
- ------                              -----------

27.1                           Financial data schedule.




<ARTICLE>                     5
       
                           
<PERIOD-TYPE>                 3-MOS
<FISCAL-YEAR-END>                               DEC-31-1998
<PERIOD-START>                                  JAN-1-1998
<PERIOD-END>                                    MAR-31-1998
<CASH>                                          38,640
<SECURITIES>                                    0
<RECEIVABLES>                                   0
<ALLOWANCES>                                    0
<INVENTORY>                                     0
<CURRENT-ASSETS>                                39,276
<PP&E>                                          461
<DEPRECIATION>                                  (146)
<TOTAL-ASSETS>                                  39,671
<CURRENT-LIABILITIES>                           1,422
<BONDS>                                         0
<PREFERRED-MANDATORY>                           0
<PREFERRED>                                     0
<COMMON>                                        102
<OTHER-SE>                                      38,147
<TOTAL-LIABILITY-AND-EQUITY>                    39,671
<SALES>                                         0
<TOTAL-REVENUES>                                547
<CGS>                                           0
<TOTAL-COSTS>                                   0
<OTHER-EXPENSES>                                2,418
<LOSS-PROVISION>                                0
<INTEREST-EXPENSE>                              0
<INCOME-PRETAX>                                 (1,871)
<INCOME-TAX>                                    0
<INCOME-CONTINUING>                             (1,871)
<DISCONTINUED>                                  0
<EXTRAORDINARY>                                 0
<CHANGES>                                       0
<NET-INCOME>                                    (1,871)
<EPS-PRIMARY>                                   (0.18)
<EPS-DILUTED>                                   (0.18)