<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS AS FILED ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 1997,
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               DEC-31-1997
<CASH>                                          14,948
<SECURITIES>                                    85,225
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               100,925
<PP&E>                                          23,874
<DEPRECIATION>                                 (5,180)
<TOTAL-ASSETS>                                 119,762
<CURRENT-LIABILITIES>                           17,114
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       135,273
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                   119,762
<SALES>                                              0
<TOTAL-REVENUES>                                16,249
<CGS>                                                0
<TOTAL-COSTS>                                   29,973
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                (66)
<INCOME-PRETAX>                                (9,983)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            (9,983)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (9,983)
<EPS-PRIMARY>                                   (0.72)
<EPS-DILUTED>                                        0