<TABLE> <S> <C>

<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF TRANSCEND THERAPEUTICS, INC. FOR THE QUARTERLY PERIOD
ENDED SEPTEMBER 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
       
<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996                       
<PERIOD-START>                             JAN-01-1997                       
<PERIOD-END>                               SEP-30-1997                       
<CASH>                                      11,539,903                       
<SECURITIES>                                         0                       
<RECEIVABLES>                                        0                       
<ALLOWANCES>                                         0                       
<INVENTORY>                                          0                       
<CURRENT-ASSETS>                            18,718,232                       
<PP&E>                                          85,215                       
<DEPRECIATION>                                       0                       
<TOTAL-ASSETS>                              19,152,360                       
<CURRENT-LIABILITIES>                        1,036,433                       
<BONDS>                                              0                       
<PREFERRED-MANDATORY>                                0                       
<PREFERRED>                                          0                       
<COMMON>                                        57,140                       
<OTHER-SE>                                  18,058,787                       
<TOTAL-LIABILITY-AND-EQUITY>                18,115,927                       
<SALES>                                      5,000,000                       
<TOTAL-REVENUES>                             5,000,000                       
<CGS>                                                0                       
<TOTAL-COSTS>                                        0                       
<OTHER-EXPENSES>                             5,178,185                       
<LOSS-PROVISION>                                     0                       
<INTEREST-EXPENSE>                                   0                       
<INCOME-PRETAX>                                179,930                       
<INCOME-TAX>                                         0                       
<INCOME-CONTINUING>                            179,930                       
<DISCONTINUED>                                       0                       
<EXTRAORDINARY>                                      0                       
<CHANGES>                                            0                       
<NET-INCOME>                                   179,930                       
<EPS-PRIMARY>                                     0.00                       
<EPS-DILUTED>                                     0.00                       
                                                                             
                                                                             

</TABLE>