<ARTICLE> 5 <MULTIPLIER> 1,000 <CURRENCY> U.S. Dollars <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> APR-01-1996 <PERIOD-END> JUN-30-1996 <EXCHANGE-RATE> 1.00 <CASH> 7,466 <SECURITIES> 10,526 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 19,000 <PP&E> 13,596 <DEPRECIATION> (8,016) <TOTAL-ASSETS> 24,708 <CURRENT-LIABILITIES> 6,626 <BONDS> 3,534 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 13 <OTHER-SE> 14,536 <TOTAL-LIABILITY-AND-EQUITY> 24,708 <SALES> 0 <TOTAL-REVENUES> 500 <CGS> 0 <TOTAL-COSTS> 500 <OTHER-EXPENSES> 5,077 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 164 <INCOME-PRETAX> (4,971) <INCOME-TAX> 0 <INCOME-CONTINUING> (4,971) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (4,971) <EPS-PRIMARY> (0.37) <EPS-DILUTED> 0