<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS CONTAINED IN THE COMPANY'S QUARTERLY REPORT ON
FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 1999 AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               JUN-30-1999
<CASH>                                           4,455
<SECURITIES>                                    53,043
<RECEIVABLES>                                      164
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                57,769
<PP&E>                                           1,691
<DEPRECIATION>                                      99
<TOTAL-ASSETS>                                  59,923
<CURRENT-LIABILITIES>                              924
<BONDS>                                            720
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           152
<OTHER-SE>                                      58,122
<TOTAL-LIABILITY-AND-EQUITY>                    58,274
<SALES>                                            108
<TOTAL-REVENUES>                                   108
<CGS>                                                0
<TOTAL-COSTS>                                   18,778
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                  14
<INCOME-PRETAX>                               (18,322)
<INCOME-TAX>                                         3
<INCOME-CONTINUING>                           (18,325)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (18,325)
<EPS-BASIC>                                     (1.69)
<EPS-DILUTED>                                   (1.69)