<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from the Company's second quarter 10-Q for the period ending June 30, 1997 and is qualified in its entirety by reference to such financial statements. </LEGEND> <MULTIPLIER> 1,000 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> JUN-30-1997 <EXCHANGE-RATE> 1.0 <CASH> 188,584 <SECURITIES> 97,582 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 287,808 <PP&E> 31,688 <DEPRECIATION> 21,681 <TOTAL-ASSETS> 300,666 <CURRENT-LIABILITIES> 9,268 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 251 <OTHER-SE> 285,701 <TOTAL-LIABILITY-AND-EQUITY> 300,666 <SALES> 0 <TOTAL-REVENUES> 19,073 <CGS> 0 <TOTAL-COSTS> 25,953 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 298 <INCOME-PRETAX> (7,178) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (7,178) <EPS-PRIMARY> (0.31) <EPS-DILUTED> (0.31)