<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS RESTATED SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTH PERIOD ENDING JUNE 30, 1996, 
FROM FORM 10-Q FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 1996 AND FROM 
FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 1996 AND IS QUALIFIED IN ITS 
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
       
                                                                       
<PERIOD-TYPE>                   6-MOS                   9-MOS                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996             DEC-31-1996             DEC-31-1996
<PERIOD-START>                             JAN-01-1996             JAN-01-1996             JAN-01-1996
<PERIOD-END>                               JUN-30-1996             SEP-30-1996             DEC-31-1996
<CASH>                                       5,826,000               4,687,000              25,255,000
<SECURITIES>                                11,306,000               9,558,000              17,226,000
<RECEIVABLES>                                        0                       0                       0
<ALLOWANCES>                                         0                       0                       0
<INVENTORY>                                          0                       0                       0
<CURRENT-ASSETS>                            17,441,000              15,501,000              43,824,000
<PP&E>                                         461,000                 768,000                 933,000
<DEPRECIATION>                                (12,000)                (53,000)               (101,000)
<TOTAL-ASSETS>                              18,030,000              16,345,000              55,495,000
<CURRENT-LIABILITIES>                        1,101,000               1,888,000               2,475,000
<BONDS>                                              0                       0                 364,000
<PREFERRED-MANDATORY>                                0                       0                       0
<PREFERRED>                                      9,000                   9,000                       0
<COMMON>                                         4,000                   4,000                  18,000
<OTHER-SE>                                  16,916,000              14,444,000              52,638,000
<TOTAL-LIABILITY-AND-EQUITY>                18,030,000              16,345,000              55,495,000
<SALES>                                              0                       0                       0
<TOTAL-REVENUES>                                     0                       0                       0
<CGS>                                                0                       0                       0
<TOTAL-COSTS>                                        0                       0                       0
<OTHER-EXPENSES>                             5,585,000               8,348,000              11,792,000
<LOSS-PROVISION>                                     0                       0                       0
<INTEREST-EXPENSE>                                   0                       0                       0
<INCOME-PRETAX>                            (5,500,000)             (8,038,000)            (10,917,000)
<INCOME-TAX>                                         0                       0                       0
<INCOME-CONTINUING>                        (5,500,000)             (8,038,000)            (10,917,000)
<DISCONTINUED>                                       0                       0                       0
<EXTRAORDINARY>                                      0                       0                       0
<CHANGES>                                            0                       0                       0
<NET-INCOME>                               (5,500,000)             (8,038,000)            (10,917,000)
<EPS-PRIMARY>                                   (1.68)                  (2.26)                  (1.89)
<EPS-DILUTED>                                   (1.68)                  (2.26)                  (1.89)