<ARTICLE>                     5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMPANY'S
FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>

                             
<PERIOD-TYPE>                                      9-MOS
<FISCAL-YEAR-END>                            DEC-31-1999
<PERIOD-END>                                 SEP-30-1999
<CASH>                                         6,635,207
<SECURITIES>                                  37,878,850
<RECEIVABLES>                                    139,018
<ALLOWANCES>                                           0
<INVENTORY>                                            0
<CURRENT-ASSETS>                              46,648,471
<PP&E>                                         4,598,652
<DEPRECIATION>                                  (851,350)
<TOTAL-ASSETS>                                55,570,890
<CURRENT-LIABILITIES>                          1,385,253
<BONDS>                                                0
<PREFERRED-MANDATORY>                                  0
<PREFERRED>                                            0
<COMMON>                                          17,648
<OTHER-SE>                                    54,167,989
<TOTAL-LIABILITY-AND-EQUITY>                  55,570,890
<SALES>                                                0
<TOTAL-REVENUES>                                 118,540
<CGS>                                                  0
<TOTAL-COSTS>                                  9,918,200
<OTHER-EXPENSES>                                       0
<LOSS-PROVISION>                                       0
<INTEREST-EXPENSE>                               216,182
<INCOME-PRETAX>                               (9,332,249)
<INCOME-TAX>                                   2,824,069
<INCOME-CONTINUING>                           (6,508,180)
<DISCONTINUED>                                         0
<EXTRAORDINARY>                                        0
<CHANGES>                                              0
<NET-INCOME>                                  (6,508,180)
<EPS-BASIC>                                        (0.44)
<EPS-DILUTED>                                      (0.44)