<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM STATEMENT OF OPERATIONS AND BALANCE SHEET AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH 10-Q. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> MAR-31-1997 <CASH> 69,836 <SECURITIES> 94,058 <RECEIVABLES> 3,062 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 166,957 <PP&E> 18,602 <DEPRECIATION> (9,921) <TOTAL-ASSETS> 175,637 <CURRENT-LIABILITIES> 5,422 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 181 <OTHER-SE> 170,034 <TOTAL-LIABILITY-AND-EQUITY> 175,637 <SALES> 0 <TOTAL-REVENUES> 3,885 <CGS> 0 <TOTAL-COSTS> 7,974 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (4,089) <INCOME-TAX> 0 <INCOME-CONTINUING> (4,089) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (4,089) <EPS-PRIMARY> (.26) <EPS-DILUTED> (.26)