<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> JUN-30-1998 <CASH> 5,189 <SECURITIES> 12,903 <RECEIVABLES> 5 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 18,400 <PP&E> 2,886 <DEPRECIATION> 2,015 <TOTAL-ASSETS> 19,362 <CURRENT-LIABILITIES> 5,520 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 19,362 <SALES> 0 <TOTAL-REVENUES> 2,357 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 20,148 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (17,228) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (17,228) <EPS-PRIMARY> (1.86) <EPS-DILUTED> (1.86)