<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS RESTATED SUMMARY CONSOLIDATED FINANCIAL INFORMATION 
EXTRACTED FROM FORM 10-Q FOR THE QUARTERLY PERIODS ENDED MARCH 31, 1997, 
JUNE 30, 1997 AND SEPTEMBER 30, 1997 AND IS QUALIFIED IN IT'S ENTIRETY BY 
REFERENCE TO SUCH CONSOLIDATED FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED> 
       
                                                                       
<PERIOD-TYPE>                   3-MOS                   6-MOS                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997             DEC-31-1997             DEC-31-1997
<PERIOD-START>                             JAN-01-1997             JAN-01-1997             JAN-01-1997
<PERIOD-END>                               MAR-31-1997             JUN-30-1997             SEP-30-1997
<CASH>                                      20,168,000              50,112,000              45,289,000
<SECURITIES>                                21,687,000              24,336,000              21,047,000
<RECEIVABLES>                                        0                       0                       0
<ALLOWANCES>                                         0                       0                       0
<INVENTORY>                                          0                       0                       0
<CURRENT-ASSETS>                            42,925,000              76,080,000              66,981,000
<PP&E>                                       1,088,000               1,209,000               1,986,000
<DEPRECIATION>                               (152,000)               (210,000)               (296,000)
<TOTAL-ASSETS>                              51,914,000              77,176,000              68,758,000
<CURRENT-LIABILITIES>                        2,342,000               3,780,000               5,333,000
<BONDS>                                        360,000                 354,000                 344,000
<PREFERRED-MANDATORY>                                0                       0                       0
<PREFERRED>                                          0                       0                       0
<COMMON>                                        18,000                  20,000                  20,000
<OTHER-SE>                                  49,194,000              73,022,000              63,061,000
<TOTAL-LIABILITY-AND-EQUITY>                51,914,000              77,176,000              68,758,000
<SALES>                                              0                       0                       0
<TOTAL-REVENUES>                                     0                       0                       0
<CGS>                                                0                       0                       0
<TOTAL-COSTS>                                        0                       0                       0
<OTHER-EXPENSES>                             4,270,000              10,658,000              29,959,000
<LOSS-PROVISION>                                     0                       0                       0
<INTEREST-EXPENSE>                                   0                       0                       0
<INCOME-PRETAX>                            (3,544,000)             (9,161,000)            (27,375,000)
<INCOME-TAX>                                         0                       0                       0
<INCOME-CONTINUING>                        (3,544,000)             (9,161,000)            (27,375,000)
<DISCONTINUED>                                       0                       0                       0
<EXTRAORDINARY>                                      0                       0                       0
<CHANGES>                                            0                       0                       0
<NET-INCOME>                               (3,544,000)             (9,161,000)            (27,375,000)
<EPS-PRIMARY>                                    (.20)                   (.51)                  (1.48)
<EPS-DILUTED>                                    (.20)                   (.51)                  (1.48)