<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FINANCIAL
STATEMENTS AS REPORTED ON FORM 10-Q AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               SEP-30-1998
<CASH>                                       2,800,110
<SECURITIES>                                 7,001,314
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                            10,079,757
<PP&E>                                         262,959
<DEPRECIATION>                                 223,483
<TOTAL-ASSETS>                              13,905,286
<CURRENT-LIABILITIES>                        1,496,625
<BONDS>                                              0
<PREFERRED-MANDATORY>                          132,717
<PREFERRED>                                          0
<COMMON>                                           170
<OTHER-SE>                                  12,275,774
<TOTAL-LIABILITY-AND-EQUITY>                13,905,286
<SALES>                                              0
<TOTAL-REVENUES>                                     0
<CGS>                                                0
<TOTAL-COSTS>                                5,616,392
<OTHER-EXPENSES>                             (636,661)
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                            (4,979,731)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (4,979,731)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (4,979,731)
<EPS-PRIMARY>                                   (0.38)
<EPS-DILUTED>                                   (0.38)