<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> DEC-31-1997 <CASH> 6,194 <SECURITIES> 21,166 <RECEIVABLES> 1,362 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 29,864 <PP&E> 31,883 <DEPRECIATION> (4,935) <TOTAL-ASSETS> 57,670 <CURRENT-LIABILITIES> 7,797 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 101,970 <OTHER-SE> (63,898) <TOTAL-LIABILITY-AND-EQUITY> 57,670 <SALES> 0 <TOTAL-REVENUES> 6,878 <CGS> 0 <TOTAL-COSTS> 20,058 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 1,187 <INCOME-PRETAX> (21,408) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (21,408) <EPS-PRIMARY> (1.59) <EPS-DILUTED> 0.00