<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> DEC-31-1997 <CASH> 10,631 <SECURITIES> 78,185 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 91,759 <PP&E> 31,362 <DEPRECIATION> 17,547 <TOTAL-ASSETS> 106,887 <CURRENT-LIABILITIES> 39,955 <BONDS> 0 <PREFERRED-MANDATORY> 19,817 <PREFERRED> 0 <COMMON> 199,523 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 106,887 <SALES> 0 <TOTAL-REVENUES> 23,806 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 148,835 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 2,453 <INCOME-PRETAX> (123,529) <INCOME-TAX> 0 <INCOME-CONTINUING> (123,529) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (123,529) <EPS-PRIMARY> (5.33) <EPS-DILUTED> (5.33)