<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONDENSED CONSOLIDATED BALANCE SHEET AND THE CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <PERIOD-TYPE> 12-MOS 12-MOS <FISCAL-YEAR-END> DEC-31-1998 DEC-31-1997 <PERIOD-END> DEC-31-1998 DEC-31-1997 <CASH> 30,818,689 18,232,491 <SECURITIES> 4,352,371 27,012,580 <RECEIVABLES> 112,383 84,151 <ALLOWANCES> 0 0 <INVENTORY> 0 0 <CURRENT-ASSETS> 35,641,247 45,935,774 <PP&E> 4,432,566 2,211,263 <DEPRECIATION> 1,453,329 712,482 <TOTAL-ASSETS> 39,574,003 47,838,663 <CURRENT-LIABILITIES> 6,371,532 4,481,403 <BONDS> 0 0 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 0 0 <COMMON> 131,230 122,538 <OTHER-SE> 33,056,834 41,830,556 <TOTAL-LIABILITY-AND-EQUITY> 39,574,003 47,838,663 <SALES> 0 0 <TOTAL-REVENUES> 5,161,483 4,757,488 <CGS> 0 0 <TOTAL-COSTS> 0 0 <OTHER-EXPENSES> 20,845,208 13,914,429 <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 0 1,418 <INCOME-PRETAX> (13,513,770) (6,536,729) <INCOME-TAX> 0 0 <INCOME-CONTINUING> (13,513,770) (6,536,729) <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> (13,513,770) (6,536,729) <EPS-PRIMARY> (1.07) (0.54) <EPS-DILUTED> (1.07) (0.54)