<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE BALANCE
SHEET AND STATEMENT OF OPERATIONS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          SEP-30-1999 
<PERIOD-START>                             OCT-01-1998  
<PERIOD-END>                               DEC-31-1998
<CASH>                                      32,325,000
<SECURITIES>                                24,688,000
<RECEIVABLES>                                  443,000
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            59,344,000
<PP&E>                                       5,494,000
<DEPRECIATION>                             (1,828,000)
<TOTAL-ASSETS>                              65,136,000
<CURRENT-LIABILITIES>                       28,018,000
<BONDS>                                      1,712,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                  3,500,000
<COMMON>                                        42,000
<OTHER-SE>                                  26,536,000<F1>
<TOTAL-LIABILITY-AND-EQUITY>                65,136,000
<SALES>                                              0
<TOTAL-REVENUES>                               691,000
<CGS>                                                0
<TOTAL-COSTS>                               14,898,000
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             113,000
<INCOME-PRETAX>                           (11,085,000)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                              (11,085,000)
<EPS-PRIMARY>                                   (0.27)
<EPS-DILUTED>                                   (0.27)
<FN>
<F1>ADDITIONAL PAID-IN-CAPITAL - $269,606,000 ACCUMULATED DEFICIT - $(243,081,000)
FAS 115 SECURITIES ADJUSTMENT - $11,000 TREASURY STOCK - $0
</FN>