<ARTICLE> 5 <MULTIPLIER> 1,000 <CURRENCY> U.S. Dollars <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JUL-1-1996 <PERIOD-END> SEP-30-1996 <EXCHANGE-RATE> 1.00 <CASH> 17,854 <SECURITIES> 2,551 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 21,441 <PP&E> 13,628 <DEPRECIATION> (8,544) <TOTAL-ASSETS> 26,653 <CURRENT-LIABILITIES> 7,832 <BONDS> 3,157 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 14 <OTHER-SE> 15,650 <TOTAL-LIABILITY-AND-EQUITY> 26,653 <SALES> 0 <TOTAL-REVENUES> 531 <CGS> 0 <TOTAL-COSTS> 531 <OTHER-EXPENSES> 5,086 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 146 <INCOME-PRETAX> (4,985) <INCOME-TAX> 0 <INCOME-CONTINUING> (4,985) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (4,985) <EPS-PRIMARY> (.37) <EPS-DILUTED> 0