<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONDENSED CONSOLIDATED BALANCE SHEETS AND CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS FOUND ON PAGES 3 AND 4 OF THE COMPANY'S FORM 10-Q FOR THE
YEAR-TO-DATE AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                              JAN-1-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                         156,043
<SECURITIES>                                   134,260
<RECEIVABLES>                                    2,994
<ALLOWANCES>                                     1,326
<INVENTORY>                                          0
<CURRENT-ASSETS>                               306,627<F1>
<PP&E>                                           7,609<F2>
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 315,445
<CURRENT-LIABILITIES>                           16,054
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            29
<OTHER-SE>                                     297,870
<TOTAL-LIABILITY-AND-EQUITY>                   315,445
<SALES>                                          4,755
<TOTAL-REVENUES>                                27,639
<CGS>                                              548
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                50,955
<LOSS-PROVISION>                                   843
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                               (13,650)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                           (13,650)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (13,650)
<EPS-PRIMARY>                                    (.50)
<EPS-DILUTED>                                        0
<FN>
<F1>Current assets include other current assets.
<F2>Property, plant and equipment is net of depreciation.
</FN>