<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                          53,540
<SECURITIES>                                    64,298
<RECEIVABLES>                                      516
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               120,436
<PP&E>                                          10,101
<DEPRECIATION>                                   2,427
<TOTAL-ASSETS>                                 132,648
<CURRENT-LIABILITIES>                            4,695
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           167
<OTHER-SE>                                     121,288
<TOTAL-LIABILITY-AND-EQUITY>                   132,648
<SALES>                                              0
<TOTAL-REVENUES>                                 1,538
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                10,107
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 147
<INCOME-PRETAX>                                (8,896)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            (8,896)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (8,896)
<EPS-PRIMARY>                                    (.63)
<EPS-DILUTED>                                    (.63)