<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> SEP-30-1998 <CASH> 23,467,292 <SECURITIES> 10,827,081 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 236,430 <CURRENT-ASSETS> 34,736,428 <PP&E> 3,523,980 <DEPRECIATION> 1,199,689 <TOTAL-ASSETS> 37,489,707 <CURRENT-LIABILITIES> 3,874,082 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 106,926 <OTHER-SE> 33,508,699 <TOTAL-LIABILITY-AND-EQUITY> 37,489,707 <SALES> 0 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 17,154,232 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 1,724,647 <INCOME-PRETAX> (15,429,585) <INCOME-TAX> 0 <INCOME-CONTINUING> (15,429,585) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (15,429,585) <EPS-PRIMARY> (1.47) <EPS-DILUTED> (1.47)