<ARTICLE>                     5
<LEGEND>
This schedule  contains summary  financial  information  extracted from the Form
10-Q for the quarter  ended  September 30, 1998 and is qualified in its entirety
by reference to such financial statements.
</LEGEND>

<MULTIPLIER>                                   1,000
       
                                           
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                         DEC-31-1998
<PERIOD-START>                            JAN-01-1998
<PERIOD-END>                              SEP-30-1998   
<CASH>                                         18,562
<SECURITIES>                                   47,526
<RECEIVABLES>                                   1,400 
<ALLOWANCES>                                        0 
<INVENTORY>                                         0
<CURRENT-ASSETS>                               67,896
<PP&E>                                         11,446
<DEPRECIATION>                                  4,113
<TOTAL-ASSETS>                                 86,878
<CURRENT-LIABILITIES>                           5,061
<BONDS>                                             0
<PREFERRED-MANDATORY>                               0
<PREFERRED>                                         0
<COMMON>                                           18
<OTHER-SE>                                     78,646
<TOTAL-LIABILITY-AND-EQUITY>                   86,878
<SALES>                                             0
<TOTAL-REVENUES>                               11,481
<CGS>                                               0
<TOTAL-COSTS>                                  28,791
<OTHER-EXPENSES>                                    0
<LOSS-PROVISION>                                    0
<INTEREST-EXPENSE>                                 87
<INCOME-PRETAX>                               (13,198)
<INCOME-TAX>                                        0
<INCOME-CONTINUING>                                 0
<DISCONTINUED>                                      0
<EXTRAORDINARY>                                     0 
<CHANGES>                                           0
<NET-INCOME>                                  (13,198)
<EPS-PRIMARY>                                   (0.74)
<EPS-DILUTED>                                   (0.74)