Can the flash drive (pen drive) data be recovered?

My pen drive suddenly stopped worked on any computer. I opened the pen drive and found that a certain component got burnt as I observed a blackened portion around it. I have some data in it and I would like to know if it is possible to recover the data from the chip by any other means. Mine is a cheaper version pen drive of 64 mb capacity, but it worked faithfully for the last 2-3 months.

vimal
September 2008