<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JUL-01-1997 <PERIOD-END> SEP-30-1997 <CASH> 6,190 <SECURITIES> 28,531 <RECEIVABLES> 399 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 35,257 <PP&E> 2,020 <DEPRECIATION> 167 <TOTAL-ASSETS> 37,708 <CURRENT-LIABILITIES> 4,990 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 10 <OTHER-SE> 30,225 <TOTAL-LIABILITY-AND-EQUITY> 37,708 <SALES> 0 <TOTAL-REVENUES> 0 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 7,373 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 193 <INCOME-PRETAX> (6,919) <INCOME-TAX> 0 <INCOME-CONTINUING> (6,919) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (6,919) <EPS-PRIMARY> (0.67) <EPS-DILUTED> 0