<TABLE> <S> <C>

<ARTICLE>         5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
COMPANY'S QUARTERLY REPORT ON FORM 10-Q FOR THE THREE MONTHS ENDED SEPTEMBER 30,
1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>    
<MULTIPLIER>                                         1,000
       
<S>                                                   <C>
<PERIOD-TYPE>                                         9-MOS
<FISCAL-YEAR-END>                                                   DEC-31-1996
<PERIOD-START>                                                      JAN-01-1996
<PERIOD-END>                                                        SEP-30-1996
<CASH>                                                                   81,881
<SECURITIES>                                                              2,031
<RECEIVABLES>                                                                 0
<ALLOWANCES>                                                                  0
<INVENTORY>                                                                   0
<CURRENT-ASSETS>                                                         83,890
<PP&E>                                                                   31,341
<DEPRECIATION>                                                           13,572
<TOTAL-ASSETS>                                                          107,528
<CURRENT-LIABILITIES>                                                     8,531
<BONDS>                                                                  86,250
<PREFERRED-MANDATORY>                                                         0
<PREFERRED>                                                               6,538
<COMMON>                                                                 63,239
<OTHER-SE>                                                             (57,167)
<TOTAL-LIABILITY-AND-EQUITY>                                            107,528
<SALES>                                                                     727
<TOTAL-REVENUES>                                                            727
<CGS>                                                                         0
<TOTAL-COSTS>                                                            23,706
<OTHER-EXPENSES>                                                              0
<LOSS-PROVISION>                                                              0
<INTEREST-EXPENSE>                                                        2,456
<INCOME-PRETAX>                                                        (19,290)
<INCOME-TAX>                                                                  0
<INCOME-CONTINUING>                                                    (19,290)
<DISCONTINUED>                                                                0
<EXTRAORDINARY>                                                               0
<CHANGES>                                                                     0
<NET-INCOME>                                                           (19,290)
<EPS-PRIMARY>                                                            (0.63)
<EPS-DILUTED>                                                            (0.63)
        

</TABLE>