<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE BALANCE
SHEET AS OF MARCH 31, 1997 AND THE RELATED STATEMENTS OF OPERATIONS AND CASH
FLOWS FOR THE NINE MONTHS THEN ENDED AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          JUN-30-1997
<PERIOD-START>                             JUL-01-1996
<PERIOD-END>                               MAR-31-1997
<CASH>                                       4,670,303
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             4,742,833
<PP&E>                                       1,916,105
<DEPRECIATION>                               1,235,529
<TOTAL-ASSETS>                               5,446,539
<CURRENT-LIABILITIES>                          418,406
<BONDS>                                      1,078,024 <F1>
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    664,031
<COMMON>                                         9,149
<OTHER-SE>                                   3,276,929
<TOTAL-LIABILITY-AND-EQUITY>                 5,446,539
<SALES>                                              0
<TOTAL-REVENUES>                                     0
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                             3,760,324
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              41,223
<INCOME-PRETAX>                            (3,654,120)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (3,654,120)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (3,654,120)
<EPS-PRIMARY>                                   (0.46)
<EPS-DILUTED>                                   (0.46)
        
<FN>
<F1> Promissory note payable to Alkermes, Inc.