<ARTICLE> 5
<LEGEND>
</LEGEND>
<MULTIPLIER> 1000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               JUN-30-1996
<CASH>                                            7951
<SECURITIES>                                     26343
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                 35451
<PP&E>                                            3112
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                   38728
<CURRENT-LIABILITIES>                             3053
<BONDS>                                              0
<COMMON>                                         57744
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                     38728
<SALES>                                              0
<TOTAL-REVENUES>                                  2930
<CGS>                                                0
<TOTAL-COSTS>                                     7988
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 672
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    (4386)
<EPS-PRIMARY>                                   (0.41)
<EPS-DILUTED>                                        0