<TABLE> <S> <C>


<ARTICLE>                     5
<CIK>     0000849043
<NAME>    Neurogen Corporation
<MULTIPLIER>                                   1,000
       
<S>                                               <C>               <C>                  <C>

<PERIOD-TYPE>                                  YEAR              YEAR                YEAR
<FISCAL-YEAR-END>                              DEC-31-1998       DEC-31-1997         DEC-31-1996
<PERIOD-START>                                 JAN-01-1998       JAN-01-1997         JAN-01-1996
<PERIOD-END>                                   DEC-31-1998       DEC-31-1997         DEC-31-1996
<CASH>                                         26,066            66,924              62,823
<SECURITIES>                                   48,944            17,227              32,314
<RECEIVABLES>                                  0                 0                   0
<ALLOWANCES>                                   0                 0                   0
<INVENTORY>                                    0                 0                   0
<CURRENT-ASSETS>                               76,964            86,465              96,729
<PP&E>                                         31,755            29,851              19,861
<DEPRECIATION>                                 7,265             4,950               3,136
<TOTAL-ASSETS>                                 101,810           111,869             113,869
<CURRENT-LIABILITIES>                          3,195             4,823               7,291
<BONDS>                                        0                 0                   0
<PREFERRED-MANDATORY>                          0                 0                   0
<PREFERRED>                                    0                 0                   0
<COMMON>                                       366               360                 356
<OTHER-SE>                                     74                (3)                 (83)
<TOTAL-LIABILITY-AND-EQUITY>                   101,810           111,869             113,869
<SALES>                                        0                 0                   0
<TOTAL-REVENUES>                               11,081            17,979              18,286
<CGS>                                          0                 0                   0
<TOTAL-COSTS>                                  24,834            23,276              17,229
<OTHER-EXPENSES>                               (4,295)           (5,040)             (4,937)
<LOSS-PROVISION>                               0                 0                   0
<INTEREST-EXPENSE>                             (17)              (35)                (51)
<INCOME-PRETAX>                                (9,458)           (257)               5,994
<INCOME-TAX>                                   0                 0                   100
<INCOME-CONTINUING>                            (9,458)           (257)               5,894
<DISCONTINUED>                                 0                 0                   0
<EXTRAORDINARY>                                0                 0                   0
<CHANGES>                                      0                 0                   0
<NET-INCOME>                                   (9,458)           (257)               5,894
<EPS-PRIMARY>                                  (.66)             (.02)               .42
<EPS-DILUTED>                                  (.66)             (.02)               .38                 
        


</TABLE>