<ARTICLE>                        5
<LEGEND>
The schedule contains summary consolidated financial information extracted from
its Annual Report on Form 10-K for the year ended December 31, 1998 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
       
                              
<PERIOD-TYPE>                    12-MOS
<FISCAL-YEAR-END>                               DEC-31-1998
<PERIOD-START>                                  JAN-01-1998
<PERIOD-END>                                    DEC-31-1998
<CASH>                                           77,653,000
<SECURITIES>                                     22,933,000
<RECEIVABLES>                                             0
<ALLOWANCES>                                              0
<INVENTORY>                                               0
<CURRENT-ASSETS>                                102,016,000
<PP&E>                                            5,467,000
<DEPRECIATION>                                   (1,303,000)
<TOTAL-ASSETS>                                  124,313,000
<CURRENT-LIABILITIES>                            22,209,000
<BONDS>                                             153,000
<PREFERRED-MANDATORY>                                     0
<PREFERRED>                                             170
<COMMON>                                             29,000
<OTHER-SE>                                      101,921,830
<TOTAL-LIABILITY-AND-EQUITY>                    124,313,000
<SALES>                                                   0
<TOTAL-REVENUES>                                          0
<CGS>                                                     0
<TOTAL-COSTS>                                             0
<OTHER-EXPENSES>                                 71,391,000
<LOSS-PROVISION>                                          0
<INTEREST-EXPENSE>                                        0
<INCOME-PRETAX>                                 (67,271,000)
<INCOME-TAX>                                              0
<INCOME-CONTINUING>                             (67,271,000)
<DISCONTINUED>                                            0
<EXTRAORDINARY>                                           0
<CHANGES>                                                 0
<NET-INCOME>                                    (67,271,000)
<EPS-PRIMARY>                                         (2.93)
<EPS-DILUTED>                                         (2.93)