<ARTICLE>                     5
       
                                       
<PERIOD-TYPE>                                   6-MOS
<FISCAL-YEAR-END>                         Dec-31-1998
<PERIOD-START>                            Jan-01-1998
<PERIOD-END>                              Jun-30-1998
<CASH>                                     32,842,206
<SECURITIES>                                7,247,546
<RECEIVABLES>                                       0
<ALLOWANCES>                                        0
<INVENTORY>                                         0
<CURRENT-ASSETS>                           40,336,161
<PP&E>                                      2,841,529
<DEPRECIATION>                              1,036,722
<TOTAL-ASSETS>                             42,573,096
<CURRENT-LIABILITIES>                       2,442,631
<BONDS>                                             0
<PREFERRED-MANDATORY>                               0
<PREFERRED>                                         0
<COMMON>                                      105,716
<OTHER-SE>                                 40,024,749
<TOTAL-LIABILITY-AND-EQUITY>               42,573,096
<SALES>                                             0
<TOTAL-REVENUES>                                    0
<CGS>                                               0
<TOTAL-COSTS>                               9,836,929
<OTHER-EXPENSES>                                    0
<LOSS-PROVISION>                                    0
<INTEREST-EXPENSE>                          1,213,088
<INCOME-PRETAX>                           (8,623,841)
<INCOME-TAX>                                        0
<INCOME-CONTINUING>                       (8,623,841)
<DISCONTINUED>                                      0
<EXTRAORDINARY>                                     0
<CHANGES>                                           0
<NET-INCOME>                              (8,623,841)
<EPS-PRIMARY>                                   (.83)
<EPS-DILUTED>                                   (.83)