<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED STATEMENTS OF OPERATION FOUND ON PAGES 3 AND 4 OF THE COMPANY'S
FORM 10-Q AT 6/30/97 AND FOR THE 3 MONTH AND 6 MONTH PERIODS ENDED 6/30/97 AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                              JAN-1-1997
<PERIOD-END>                               JUN-30-1997
<CASH>                                         138,961
<SECURITIES>                                   198,393
<RECEIVABLES>                                    4,684<F1>
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               342,038
<PP&E>                                          10,458<F2>
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 353,960
<CURRENT-LIABILITIES>                           21,526
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          1
<COMMON>                                            29
<OTHER-SE>                                     330,576
<TOTAL-LIABILITY-AND-EQUITY>                   353,960
<SALES>                                          6,990
<TOTAL-REVENUES>                                25,191
<CGS>                                              815
<TOTAL-COSTS>                                      815
<OTHER-EXPENSES>                                25,522
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                (5,237)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            (5,237)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (5,237)
<EPS-PRIMARY>                                   (0.18)
<EPS-DILUTED>                                        0
<FN>
<F1>Balance includes all "other current assets".
<F2>Balance is net of depreciation.
</FN>