<ARTICLE> 5
<LEGEND>  EPS PRIMARY REPRESENTS BASIC NET LOSS PER SHARE
<RESTATED>
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<CASH>                                      18,553,831
<SECURITIES>                                 9,979,776
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            25,982,382
<PP&E>                                       2,164,351
<DEPRECIATION>                               (711,383)
<TOTAL-ASSETS>                              30,733,191
<CURRENT-LIABILITIES>                        2,496,849
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                    49,821,157
<OTHER-SE>                                   (791,044)
<TOTAL-LIABILITY-AND-EQUITY>                30,733,191
<SALES>                                              0
<TOTAL-REVENUES>                               730,000
<CGS>                                                0
<TOTAL-COSTS>                               10,938,886
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              52,075
<INCOME-PRETAX>                            (9,082,161)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (9,082,161)
<EPS-PRIMARY>                                   (1.49)
<EPS-DILUTED>                                   (1.49)