<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE BALANCE
SHEET AND STATEMENT OF OPERATIONS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS
</LEGEND>
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAR-31-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                      38,459,000
<SECURITIES>                                32,651,000
<RECEIVABLES>                                1,145,000
<ALLOWANCES>                                         0
<INVENTORY>                                  3,629,000
<CURRENT-ASSETS>                            75,301,000
<PP&E>                                       3,204,000
<DEPRECIATION>                             (1,763,000)
<TOTAL-ASSETS>                              78,129,000
<CURRENT-LIABILITIES>                       11,978,000
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                  3,500,000
<COMMON>                                        37,000
<OTHER-SE>                                  41,944,000<F1>
<TOTAL-LIABILITY-AND-EQUITY>                78,129,000
<SALES>                                              0
<TOTAL-REVENUES>                             7,381,000
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                            21,984,000
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             144,000
<INCOME-PRETAX>                           (15,145,000)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                       (15,145,000)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                              (15,145,000)
<EPS-PRIMARY>                                    (.44)
<EPS-DILUTED>                                        0
<FN>
<F1>ADDITIONAL PAID - IN CAPITAL - $135,881,000
ACCUMULATED DEFICIT - $ (93,937,000)
</FN>