<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
COMPANY'S FIRST QUARTER 10-Q FOR THE PERIOD ENDING MARCH 31, 1997 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<CURRENCY> US DOLLARS
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<EXCHANGE-RATE>                                     1.
<CASH>                                          84,927
<SECURITIES>                                   190,157
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               276,771
<PP&E>                                          30,960
<DEPRECIATION>                                  20,851
<TOTAL-ASSETS>                                 289,641
<CURRENT-LIABILITIES>                            9,101
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           247
<OTHER-SE>                                     274,960
<TOTAL-LIABILITY-AND-EQUITY>                   289,641
<SALES>                                              0
<TOTAL-REVENUES>                                 6,918
<CGS>                                                0
<TOTAL-COSTS>                                   12,532
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 152
<INCOME-PRETAX>                                (5,766)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (5,766)
<EPS-PRIMARY>                                   (0.26)
<EPS-DILUTED>                                   (0.26)