<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEETS, STATEMENTS OF OPERATIONS AND STATEMENTS OF CASH
FLOWS INCLUDED IN THE COMPANY'S FORM 10-Q FOR THE PERIOD ENDED MARCH 31, 1996,
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS AND
NOTES THERETO.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                          48,127
<SECURITIES>                                    18,256
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                67,849
<PP&E>                                          17,696
<DEPRECIATION>                                   9,612
<TOTAL-ASSETS>                                  76,841
<CURRENT-LIABILITIES>                           16,514
<BONDS>                                          4,051
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        13,333
<OTHER-SE>                                      42,574
<TOTAL-LIABILITY-AND-EQUITY>                    76,841
<SALES>                                              0
<TOTAL-REVENUES>                                 5,044
<CGS>                                                0
<TOTAL-COSTS>                                    5,644
<OTHER-EXPENSES>                                 1,205
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 115
<INCOME-PRETAX>                                (1,563)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            (1,563)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (1,563)
<EPS-PRIMARY>                                    (.15)
<EPS-DILUTED>                                    (.15)