<TABLE> <S> <C>

<ARTICLE>                                                                      5
     <LEGEND> THIS SCHEDULE  CONTAINS SUMMARY  FINANCIAL  INFORMATION  EXTRACTED
          FROM THE  FINANCIAL  STATEMENTS  OF ARONEX  PHARMACEUTICALS,  INC. SET
          FORTH IN THE COMPANY'S  FORM 10-Q FOR THE NINE MONTHS ENDED  SEPTEMBER
          30,  1997  AND IS  QUALIFIED  IN ITS  ENTIRETY  BY  REFERENCE  TO SUCH
          FINANCIAL STATEMENTS.</LEGEND>

<MULTIPLIER>                                                            1
       
<S>                                                           <C>  
<PERIOD-TYPE>                                                       9-MOS
<FISCAL-YEAR-END>                                             DEC-31-1997
<PERIOD-END>                                                  SEP-30-1997
<CASH>                                                          1,921,000
<SECURITIES>                                                   29,080,000
<RECEIVABLES>                                                           0
<ALLOWANCES>                                                            0
<INVENTORY>                                                             0
<CURRENT-ASSETS>                                               31,876,000
<PP&E>                                                          4,874,000
<DEPRECIATION>                                                  3,235,000
<TOTAL-ASSETS>                                                 35,588,000
<CURRENT-LIABILITIES>                                           3,765,000
<BONDS>                                                                 0
<COMMON>                                                           15,000
<PREFERRED-MANDATORY>                                                   0
<PREFERRED>                                                             0
<OTHER-SE>                                                     31,795,000
<TOTAL-LIABILITY-AND-EQUITY>                                   35,588,000
<SALES>                                                                 0
<TOTAL-REVENUES>                                                2,223,000
<CGS>                                                                   0
<TOTAL-COSTS>                                                           0
<OTHER-EXPENSES>                                               14,501,000
<LOSS-PROVISION>                                                        0
<INTEREST-EXPENSE>                                                 53,000
<INCOME-PRETAX>                                              (12,278,000)
<INCOME-TAX>                                                            0
<INCOME-CONTINUING>                                          (12,278,000)
<DISCONTINUED>                                                          0
<EXTRAORDINARY>                                                         0
<CHANGES>                                                               0
<NET-INCOME>                                                 (12,278,000)
<EPS-PRIMARY>                                                       (.83)
<EPS-DILUTED>                                                       (.83)
        

</TABLE>