<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-START> JUL-01-1999 <PERIOD-END> SEP-30-1999 <CASH> 13,385,195 <SECURITIES> 15,064,469 <RECEIVABLES> 103,485 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 28,666,823 <PP&E> 9,790,362 <DEPRECIATION> 5,684,228 <TOTAL-ASSETS> 32,776,224 <CURRENT-LIABILITIES> 2,639,996 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 12,719 <OTHER-SE> 30,106,172 <TOTAL-LIABILITY-AND-EQUITY> 32,776,224 <SALES> 0 <TOTAL-REVENUES> 1,268,348 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 5,938,814 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (4,670,466) <INCOME-TAX> 0 <INCOME-CONTINUING> (4,670,466) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (4,670,466) <EPS-BASIC> (0.37) <EPS-DILUTED> (0.37)