<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
COMPANY'S YEAR END REPORT ON FORM 10-K, FOR THE TWELVE MONTHS ENDED DECEMBER 31,
1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-31-1998
<PERIOD-END>                               DEC-31-1998
<EXCHANGE-RATE>                                    1.0
<CASH>                                          24,169
<SECURITIES>                                   221,483
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               248,708
<PP&E>                                          42,621
<DEPRECIATION>                                (28,145)
<TOTAL-ASSETS>                                 266,346
<CURRENT-LIABILITIES>                           13,102
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           254
<OTHER-SE>                                     245,958
<TOTAL-LIABILITY-AND-EQUITY>                         0
<SALES>                                              0
<TOTAL-REVENUES>                                44,398
<CGS>                                                0
<TOTAL-COSTS>                                   76,803
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 681
<INCOME-PRETAX>                               (33,086)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                           (33,086)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (33,086)
<EPS-PRIMARY>                                   (1.31)
<EPS-DILUTED>                                   (1.31)