<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from (a) the
balance sheet dated December 31, 1996 and the statement of operations for the
year ended December 31, 1996 and is qualified in its entirety by reference to
such (b) financial statements
</LEGEND>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<CASH>                                           2,615
<SECURITIES>                                    50,519
<RECEIVABLES>                                    7,644
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                64,198
<PP&E>                                          20,870
<DEPRECIATION>                                (13,823)
<TOTAL-ASSETS>                                  71,245
<CURRENT-LIABILITIES>                           17,438
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             2
<OTHER-SE>                                      50,442
<TOTAL-LIABILITY-AND-EQUITY>                    71,245
<SALES>                                              0
<TOTAL-REVENUES>                                18,755
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                58,094
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 759
<INCOME-PRETAX>                               (36,546)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                           (36,546)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (36,546)
<EPS-PRIMARY>                                   (1.86)
<EPS-DILUTED>                                   (1.86)