<ARTICLE> 5 <MULTIPLIER> 1,000 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> AUG-31-1997 <PERIOD-START> SEP-01-1996 <PERIOD-END> MAY-31-1997 <EXCHANGE-RATE> 1 <CASH> 7,126 <SECURITIES> 41,957 <RECEIVABLES> 1,900 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 50,182 <PP&E> 14,198 <DEPRECIATION> 4,733 <TOTAL-ASSETS> 63,291 <CURRENT-LIABILITIES> 9,104 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 1,770 <OTHER-SE> 47,867 <TOTAL-LIABILITY-AND-EQUITY> 63,291 <SALES> 0 <TOTAL-REVENUES> 16,317 <CGS> 0 <TOTAL-COSTS> 21,300 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 431 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (5,414) <EPS-PRIMARY> (0.31) <EPS-DILUTED> 0