<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ITEM 1 OF
FORM 10-Q FOR THE PERIOD ENDED JUNE 30, 1996 AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH 10-Q.
</LEGEND>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               JUN-30-1996
<EXCHANGE-RATE>                                      1
<CASH>                                           7,172
<SECURITIES>                                    30,348
<RECEIVABLES>                                    9,365
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                47,840
<PP&E>                                          17,777
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                  66,048
<CURRENT-LIABILITIES>                           22,147
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            10
<OTHER-SE>                                      43,372
<TOTAL-LIABILITY-AND-EQUITY>                    66,048 
<SALES>                                              0
<TOTAL-REVENUES>                                13,213
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                18,151     
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                (3,661)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            (3,661)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (3,661)
<EPS-PRIMARY>                                    (.37)
<EPS-DILUTED>                                    (.37)