<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> SEP-30-1997 <CASH> 58,983,187 <SECURITIES> 0 <RECEIVABLES> 100,462 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 59,396,149 <PP&E> 7,274,677 <DEPRECIATION> 3,312,665 <TOTAL-ASSETS> 63,363,622 <CURRENT-LIABILITIES> 2,107,287 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 12,006 <OTHER-SE> 61,119,588 <TOTAL-LIABILITY-AND-EQUITY> 63,363,622 <SALES> 0 <TOTAL-REVENUES> 5,563,701 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 14,753,184 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 56,130 <INCOME-PRETAX> (9,245,613) <INCOME-TAX> 0 <INCOME-CONTINUING> (9,245,613) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (9,245,613) <EPS-PRIMARY> (0.78) <EPS-DILUTED> 0