<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)