SECURITIES AND EXCHANGE COMMISSION
                     WASHINGTON, D.C. 20549



                            FORM 10-Q

           QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
               OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarter Ended                         Commission File No.
 September 30, 1995                                0-15443

                      THERAGENICS CORPORATION
       (Exact name of registrant as specified in its charter)

        Delaware                         58-1528626         
(State of incorporation) (I.R.S. Employer Identification Number)


         5325 Oakbrook Parkway
          Norcross, Georgia                             30093   
(Address of principal executive offices)              (Zip Code)  
 

Registrant's telephone number, including area code: (770)381-8338



Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing
requirements for the past 90 days.  YES    X      NO         


Indicate the number of shares outstanding of each of the issuers
classes of common stock, as of the latest practicable date:



         CLASS             Shares Outstanding at November 10, 1995
      Common Stock,                        11,200,985             
     par value $.01
<PAGE>
<PAGE>
                     THERAGENICS CORPORATION

                        TABLE OF CONTENTS


                                                             Page
PART I  - FINANCIAL INFORMATION:
 
  ITEM 1. FINANCIAL STATEMENTS

    Balance Sheets - 
    December 31, 1994 and September 30, 1995 (unaudited)....... 3

    Statements of Earnings for the Three and Nine
    Months Ended September 30, 1994 and 1995 (unaudited)....... 5

    Statements of Cash Flows for the Three and Nine
    Months Ended September 30, 1994 and 1995 (unaudited)....... 6

    Statements of Changes in Stockholders' Equity for 
    the Nine Months Ended September 30, 1995 (unaudited)....... 8

    Notes to Financial Statements.............................. 9

  ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
          FINANCIAL CONDITION AND RESULTS OF OPERATIONS....... 10

PART II - OTHER INFORMATION

  ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.................... 13

SIGNATURE .................................................... 14<PAGE>
<PAGE>

                  PART I - FINANCIAL INFORMATION

Item 1. - Financial Statements


<TABLE>
                     THERAGENICS CORPORATION

                          BALANCE SHEETS

             DECEMBER 31, 1994 AND SEPTEMBER 30, 1995

                              ASSETS


<CAPTION>
                                       December 31, September 30, 
                                          1994         1995    
                                                    (Unaudited)
<S>                                   <C>          <C>
CURRENT ASSETS
 Cash and short-term investments      $ 2,317,463   $3,501,062 
 Marketable securities                     50,000          -   
 Trade Accounts Receivable                732,424    1,190,069 
 Inventories                              192,161      194,964 
 Prepaid expenses and other
 current assets                            91,801       70,930 
   Total current assets                 3,383,849    4,957,025 

PROPERTY AND EQUIPMENT                                    
 Building (Note B)                        899,760    1,673,154 
 Leasehold Improvement                    138,978      142,652 
 Machinery and equipment (Note B)       5,167,815    8,163,036 
 Office furniture and equipment            44,721       44,721 
                                        6,251,274   10,023,563 
 Less accumulated depreciation
  and amortization                     (1,445,206)  (1,967,275)
                                        4,806,068    8,056,288 
  Land                                     49,485       49,485 
  Construction in progress (Note B)     3,602,825      806,447 
                                        8,458,378    8,912,220 

OTHER ASSETS
 Deferred Tax Asset                     2,179,000    1,461,231 
 Patent Costs                              94,982       92,747 
 Other                                     52,449       30,127 
                                        2,326,431    1,584,105 
                                      $14,168,658  $15,453,350 
</TABLE>
<PAGE>
<PAGE>
<TABLE>
                     THERAGENICS CORPORATION

                          BALANCE SHEETS
                           (Continued)

             DECEMBER 31, 1994 AND SEPTEMBER 30, 1995

               LIABILITIES AND STOCKHOLDERS' EQUITY


<CAPTION>
                                       December 31, September 30, 
                                          1994         1995    
                                                    (Unaudited)
<S>                                  <C>          <C>
CURRENT LIABILITIES:
 Current portion of long term debt   $   469,765   $  500,565 
 Trade accounts payable                  226,209      220,522 
 Accrued salaries, wages,
 and payroll taxes                       110,132      222,146 
 Income taxes payable                        113          -   
 Other current liabilities                33,036       99,434 
   Total current liabilities             839,255    1,042,667 
                                                              
 
LONG TERM DEBT:
 Long Term Debt                        1,519,354    1,140,279 


SHAREHOLDERS' EQUITY:
 Common stock, $.01 par value,
 50,000,000 shares authorized;
 10,961,887 and 11,200,985
 shares had been issued as of
 December 31, 1994 and June 30,
 1995, respectively.                     109,618      112,010 
 Additional paid-in capital           15,207,453   15,477,807 
 Accumulated deficit                  (3,507,022)  (2,319,413)
   Total stockholders' equity         11,810,049   13,270,404 
                                     $14,168,658  $15,453,350 
</TABLE>

 The accompanying notes are an integral part of these statements.<PAGE>
<PAGE>
<TABLE>
                     THERAGENICS CORPORATION
                      STATEMENTS OF EARNINGS
            FOR THE THREE MONTHS AND NINE MONTHS ENDED
                   SEPTEMBER 30, 1994 AND 1995
                           (Unaudited)

<CAPTION>
                         Three Months           Nine Months      
                      Ended September 30     Ended September 30  
                        1994       1995       1994        1995    
                   
<S>               <C>         <C>         <C>         <C>
REVENUES:
Sales ............$1,129,094  $1,926,456  $3,387,621  $5,587,134 
Licensing Fees ...       -           -           -        85,431 

COSTS & EXPENSES:
Cost of sales .....  442,870     665,346   1,232,751   1,940,274 
Selling, general, &
administrative ....  480,209     607,124   1,435,942   1,884,724 
Research and
development .......    4,916       2,873      14,771      17,068 
                     927,995   1,275,343   2,683,464   3,842,066 

OTHER INCOME (EXPENSE):
Interest income ...   39,351      37,829     103,631     102,078 
Interest expense ..  (26,565)        -       (81,149)        -   
Other .............  (29,260)     (9,738)    (28,882)    (17,078)
                     (16,474)     28,091      (6,400)     85,000 
NET EARNINGS BEFORE
 INCOME TAXES .....  184,625     679,204     697,757   1,915,499 

Income tax expense    67,000     258,098     255,000     727,890 

NET EARNINGS ......  117,625     421,106     442,757   1,187,609 

NET EARNINGS PER
COMMON SHARE           $ .01        $.04       $ .04        $.10 

WEIGHTED AVERAGE 
SHARES            11,608,330  11,937,322  11,607,090  11,826,326 
</TABLE>

 The accompanying notes are an integral part of these statements.<PAGE>
<PAGE>
<TABLE>
                    THERAGENICS CORPORATION
                    STATEMENTS OF CASH FLOWS
           FOR THE THREE MONTHS AND NINE MONTHS ENDED
                 SEPTEMBER 30, 1994 AND 1995
                         (Unaudited)

<CAPTION>
                         Three Months            Nine Months      
                      Ended September 30     Ended September 30  
                       1994       1995         1994       1995  
 
<S>               <C>        <C>           <C>        <C>
CASH FLOWS FROM 
OPERATING ACTIVITIES:
 Earnings.........$  117,625 $ 421,106     $ 442,757  $1,187,609 
 Adjustments to
 reconcile net
 earnings to net
 cash provided by
 operating 
 activities:
  Depreciation and
  amortization.....  140,454    223,259       420,719    587,813 
  Change in assets
  and liabilities: 
  Accounts
  receivable.......    8,855   (111,446)     (113,798)  (457,645)
  Inventories......  (75,439)    21,562       (97,848)    (2,803)
  Prepaid expenses
  and other current
  assets...........  (26,202)    27,148        32,133     20,871 
  Deferred tax asset  62,000    253,472       235,000    717,769 
  Other assets.....  (26,061)       821       (26,261)    22,322 
  Trade accounts
  payable..........  110,320      2,277        94,779     (5,687)
  Accrued salaries,
  wages and
  payroll taxes....   13,171     12,128        66,108    112,014 
  Other current 
  liabilities......  (24,205)    35,061        54,875     66,285 
  Total Adjustments  182,893    464,282       665,707  1,060,939 
 Net cash provided
 by operating
 activities........  300,518    885,388     1,108,464  2,248,548
</TABLE>
<PAGE>
<PAGE>
<TABLE>
                    THERAGENICS CORPORATION
                    STATEMENTS OF CASH FLOWS
           FOR THE THREE MONTHS AND NINE MONTHS ENDED
                  SEPTEMBER 30, 1994 AND 1995
                         (Unaudited)
                         (continued)

<CAPTION>
                        Three Months             Nine Months      
                     Ended September 30       Ended September 30  
                       1994       1995          1994       1995  
<S>                <C>         <C>          <C>         <C>
CASH FLOWS FROM 
INVESTING ACTIVITIES:
 Purchases and
 construction of
 property and
 equipment.........(2,357,541)   (623,156)  (2,473,092)  (1,037,519)
 Retirements of 
 property and
 equipment.........         3         643        1,572       1,677 
 Patent costs......     1,944          54        5,248      (3,578)
 Purchases/sales
 of marketable
 securities........   196,516         -        300,000      50,000 
 Market value change
 of marketable
 securities........    10,116         -          9,462         -   
 Net cash provided
 /(used) by investing 
 activities........(2,148,962)   (622,459)  (2,156,810)   (989,420)

CASH FLOWS FROM
FINANCING ACTIVITIES:
 Exercise of
 stock options....     40,000     217,000       46,000     272,746 
 Proceeds from
 term loan........  2,100,000         -      2,100,000         -  
 Repayment of
 term loan........ (1,023,102)   (118,369)  (1,330,439)   (348,275)
 Net cash provided
 /(used) by financing 
 activities.......  1,116,898      98,631      815,561     (75,529)

NET INCREASE IN CASH
AND SHORT-TERM 
INVESTMENTS.......   (731,546)    361,560     (232,785)  1,183,599 

CASH AND SHORT-TERM 
INVESTMENTS AT 
BEGINNING OF PERIOD 3,581,782   3,139,502    3,083,021   2,317,463 

CASH AND SHORT-TERM 
INVESTMENTS AT 
END OF PERIOD......$2,850,236  $3,501,062   $2,850,236  $3,501,062 
</TABLE>
The accompanying notes are an integral part of these statements.<PAGE>
<PAGE>
<TABLE>
                     THERAGENICS CORPORATION
           STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
           FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1995
                          (Unaudited)



<CAPTION>
                Common Stock       Additional 
             Number of  Par Value    Paid-in    Accumulated
              shares      $.01       capital      deficit      Total   
<S>          <C>         <C>       <C>         <C>          <C>
BALANCE, 
December 31,
1994........ 10,961,887  $109,618  $15,207,453 $(3,507,022) $11,810,049 
Exercise of 
stock options   239,098     2,392      270,354         -        272,746 
Net earnings
for the 
period......        -         -            -     1,187,609    1,187,609 
BALANCE, 
September 30,
1995........ 11,200,985  $112,010  $15,477,807 $(2,319,413) $13,270,404 
</TABLE>


   The accompanying notes are an integral part of these statements.<PAGE>
<PAGE>
                     THERAGENICS CORPORATION

                  NOTES TO FINANCIAL STATEMENTS

                       SEPTEMBER 30, 1995
                           (Unaudited)



NOTE A - BASIS OF PRESENTATION

         The interim financial statements included herein have
         been prepared by the Company without audit. These
         statements reflect all adjustments which are, in the
         opinion of management, necessary to present fairly the
         financial position as of September 30, 1995, and the results
         of operations, cash flows, and changes in shareholders 
         equity for the three and nine months ended September 30, 1995. 
         All such adjustments are of a normal recurring nature.  
         Certain information and footnote disclosures normally 
         included in financial statements prepared in accordance 
         with generally accepted accounting principles have been 
         condensed or omitted. The Company believes that the  
         disclosures are adequate to make the information
         presented not misleading. It is suggested that these 
         financial statements and notes be read in conjunction 
         with the audited financial statements and notes for the 
         year ended December 31, 1994, included in the Form 10-K
         filed by the Company.



NOTE B - CONSTRUCTION IN PROGRESS

         In April 1995, $3.8 million related to the Company's #2
         cyclotron capacity expansion project was moved from
         construction in progress and placed in service with
         approximately $.8 million representing building costs
         and $3.0 million representing machinery and equipment
         costs.



<PAGE>
<PAGE>
Item 2. - Management's Discussion and Analysis of
          Financial Condition and Results of Operations

Results of Operations

Revenues - Revenues for the quarter ($1,926,000) were up 71% over
the third quarter of 1994 contributing to year to date revenues
($5,673,000) being 67% over the first nine months of last year. 
As in the first and second quarters of this year, the increase 
in third quarter sales resulted primarily from the Company's 
marketing campaign which was accelerated in the second half of
1994 with continued emphasis in the first nine months of 1995.
Improvement in manufacturing reliability continued to provide a
flow of product capable of sustaining third quarter's demand for
product. Additionally, lump-sum payments associated with the
licensing of the Company's TheraSphere product were received in
the second quarter contributing to the nine-month improvement
in revenues.

The Company's net profit improved 258% to $421,000, or $.035 per
share in the second quarter of 1995, from $118,000 or $.010 per
share for the same period in 1994. Year to date profits grew 168%
to $1,188,000 from $443,000 with earnings per share of $.100
versus $.038.


Costs and Expenses - Cost of sales for the third quarter
increased by $222,000 primarily due to costs associated with
increase sales plus additional depreciation expense of $81,000
reflecting the placing in service of the Company's second
cyclotron as of April 1, 1995. Also contributing to the rise in cost
of sales was the continuation of the Company's efforts to improve
efficiencies in the manufacturing area. These efforts and costs
are most likely to continue as the Company identifies
opportunities to improve quantity, quality or safety. With the
exception of the depreciation expense related to cyclotron #2,
the same factors account for the $708,000 increase in cost of
sales for the first nine months of 1995 compared to the same
period of 1994.


S,G&A expenses as a percent of sales decreased from 43% in the
third quarter of 1994 to 32% for the same period in 1995. The
nine-month percentages were reduced to 33% in 1995 versus 42% in
1994. As sales increase, S,G&A expenses are expected to continue
to decline as a percent of sales except for variable components
such as advertising and public relations expense which have and
will continue to significantly increase in line with the recent
acceleration of the Company's marketing programs. Those
increases, together with additional costs in insurance, property
taxes, investor relations and personnel expenses aggregated the
$127,000 increase in 1995 third quarter S,G&A over the third
quarter of 1994. These same expenses account for the $449,000
increase in S,G&A for the first nine months of 1995 over the same
period in 1994. Costs in these areas are expected to remain at
the higher levels.

<PAGE>
Other Income and Expense shows an improvement of approximately
$45,000 primarily due to a $27,000 decrease in interest expense
and a $20,000 decrease in other expenses reflecting the write-off
of unamortized loan costs and prepayment associated with an old
loan which was refinanced in September, 1994. The improvement in
interest expense results from 1994's third quarter reflecting
$25,000 as interest expense which should have been capitalized
because of construction in progress. Interest expense was also
booked improperly in the first and second quarters of 1994 which
along with the loan write-off in 1994 resulted in the nine-months
ended September 30, 1995 recording a $91,000 improvement in Other
Income and Expense from the same period in 1994.


Liquidity and Capital Resources

The Company had cash, cash equivalents, short-term investments
and marketable securities of $3.5 million at September 30, 1995,
compared to $2.4 million at December 31, 1994. Operating
activities for the first nine months of 1995 provided $2,249,000
in additional cash. This positive cash flow from operations
primarily represents the nine month's profit of $1,188,000, an
adjustment for depreciation of $588,000 which is a non-cash
expense, a tax loss carryforward adjustment of $718,000 which
reduces cash tax payments, an increase in salaries, vacations and
payroll taxes payable of $112,000, an increase in other current
liabilities of $66,000 and other miscellaneous items of
approximately $35,000 offset by an increase in accounts
receivable of $458,000 due to increased sales.

During the first nine months of 1995, the Company used cash in
the amount of $225,500 predominantly for final payment on the
Company's second cyclotron and its facilities including
capitalized interest. An additional $691,500 represented progress
payments on a third and fourth cyclotron and facilities to house
them, while the remaining $121,000 represented capital equipment
and capitalized interest.

Finally, repayment of long term debt totaled $118,000 during the
third quarter and $348,000 for the nine-month period ended
September 30, 1995.

<PAGE>
<PAGE>
                   PART II - OTHER INFORMATION



Item 6.- Exhibits and Reports on Form 8-K

         (a) Exhibits - None

         (b) Reports on Form 8-K - None

<PAGE>
<PAGE>

                            SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.


                                  REGISTRANT:
                                  THERAGENICS CORPORATION
                                       


                                  By: /s/ M. Christine Jacobs
                                          M. Christine Jacobs
                                          President


                                  PRINCIPAL FINANCIAL OFFICER:



                                      /s/ Bruce W. Smith    
                                          Bruce W. Smith
                                          Treasurer and
                                          Chief Financial Officer

Dated: November 8, 1995