<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS AS FILED ON FORM 10-Q FOR THE THREE AND SIX MONTHS ENDED
JUNE 30, 1998.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<CASH>                                          28,481
<SECURITIES>                                    45,824
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                76,557
<PP&E>                                          40,033
<DEPRECIATION>                                 (6,625)
<TOTAL-ASSETS>                                 110,067
<CURRENT-LIABILITIES>                           13,081
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       136,578
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                   110,067
<SALES>                                              0
<TOTAL-REVENUES>                                10,544
<CGS>                                                0
<TOTAL-COSTS>                                   19,812
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                (6,999)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            (6,999)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (6,999)
<EPS-PRIMARY>                                   (0.45)
<EPS-DILUTED>                                        0