<PAGE> 1
Filed Pursuant to Rule 424(b)(3)
Securities & Exchange Commission File No.: 33-97740
THERATX, INCORPORATED
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SUPPLEMENT NO. 01 DATED APRIL 12, 1996
TO PROSPECTUS DATED APRIL 5, 1996
This Supplement is part of and should be read in conjunction
with the Prospectus of TheraTx, Incorporated, a Delaware corporation, dated
April 5, 1996, and the Supplements thereto dated April 12, 1996 (the
"Prospectus"). Capitalized terms used but not defined in this Supplement have
the meanings given to them in the Prospectus. The information presented herein
either supersedes and/or adds to similar information included in the Prospectus.
The information contained under the caption "Selling
Noteholders" appearing on page 15 of the Prospectus is hereby supplemented to
include the principal amount of Notes beneficially owned by the Selling
Noteholder[s] named below (the "Beneficial Noteholder[s]") and, assuming
conversion of the Notes, the number of shares which will be beneficially owned
by the Beneficial Noteholder[s].
<TABLE>
<CAPTION>
NUMBER OF
PRINCIPAL SHARES NUMBER OF
PRINCIPAL AMOUNT OF PERCENT OF ISSUABLE SHARES PERCENT OF
AMOUNT OF NOTES BEING OUTSTANDING UPON BEING OUTSTANDING
NAME NOTES OWNED OFFERED NOTES CONVERSION(1) OFFERED SHARES(2)
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Forum Capital Markets $ 800,000 $ 800,000 * % 33,333 33,333 * %
.............................
Robertson, Stephens & Co. 1,500,000 1,500,000 1.5 62,500 62,500 *
.............................
Donaldson, Lufkin & Jenrette 3,621,000 3,621,000 3.6 150,875 150,875 *
.............................
Robertson, Stephens & Co. 1,000,000 1,000,000 1.0 41,666 41,666 *
.............................
Robertson, Stephens & Co. 500,000 500,000 * 20,833 20,833 *
.............................
McMahan Securities Co., L.P. 725,000 725,000 * 30,208 30,208 *
.............................
McMahan Securities Co., L.P. 665,000 665,000 * 27,708 27,708 *
.............................
Robertson, Stephens & Co. 250,000 250,000 * 10,416 10,416 *
.............................
Robertson, Stephens & Co. 750,000 750,000 * 31,250 31,250 *
.............................
Eaton Vance 500,000 500,000 * 20,833 20,833 *
.............................
Donaldson, Lufkin & Jenrette 514,000 514,000 * 21,416 21,416 *
.............................
NBD Bank 430,000 430,000 * 17,916 17,916 *
.............................
Boston Safe 970,000 970,000 * 40,416 40,416 *
.............................
Sanwa Bank 850,000 850,000 * 35,416 35,416 *
.............................
Salomon Brothers 250,000 250,000 * 10,416 10,416 *
.............................
Northern Trust 275,000 275,000 * 11,458 11,458 *
.............................
Forum Capital Markets 1,500,000 1,500,000 1.5 62,500 62,500 *
.............................
Robertson, Stephens & Co. 2,000,000 2,000,000 2.0 83,333 83,333 *
.............................
</TABLE>
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* Less than 1%
(1) Assumes initial conversion price of $24 per share.
(2) Based on shares of record outstanding at March 14, 1996. Outstanding
shares do not include any Shares which may be issued upon conversion of
the Notes.
