<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> SEP-30-1996 <CASH> 18,127 <SECURITIES> 63,944 <RECEIVABLES> 237 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 83,485 <PP&E> 0 <DEPRECIATION> 0 <TOTAL-ASSETS> 86,032 <CURRENT-LIABILITIES> 3,015 <BONDS> 206 <COMMON> 135 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 82,676 <TOTAL-LIABILITY-AND-EQUITY> 86,032 <SALES> 0 <TOTAL-REVENUES> 486 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 14,721 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 58 <INCOME-PRETAX> (12,021) <INCOME-TAX> 0 <INCOME-CONTINUING> (12,021) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (12,021) <EPS-PRIMARY> (.99) <EPS-DILUTED> (.99)