-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 HmjN5NOSGxx5vqmVB90n9xxFaLfRLmwaKat3mrooVNXFICFd3jJ0kkcHSQterkaQ
 Z9plF3R5NmsTqBoAqgtiCg==

<SEC-DOCUMENT>0001503592-10-000002.txt : 20101018
<SEC-HEADER>0001503592-10-000002.hdr.sgml : 20101018
<ACCEPTANCE-DATETIME>20101018155703
ACCESSION NUMBER:		0001503592-10-000002
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20101007
FILED AS OF DATE:		20101018
DATE AS OF CHANGE:		20101018

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Cavanagh William
		CENTRAL INDEX KEY:			0001503593

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33407
		FILM NUMBER:		101128100

	MAIL ADDRESS:	
		STREET 1:		350 HILLS STREET
		STREET 2:		SUITE 106
		CITY:			RICHLAND
		STATE:			WA
		ZIP:			99354

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IsoRay, Inc.
		CENTRAL INDEX KEY:			0000728387
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				411458152
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		350 HILLS STREET,
		STREET 2:		SUITE 106
		CITY:			RICHLAND
		STATE:			WA
		ZIP:			99354
		BUSINESS PHONE:		(509) 375-1202

	MAIL ADDRESS:	
		STREET 1:		350 HILLS STREET,
		STREET 2:		SUITE 106
		CITY:			RICHLAND
		STATE:			WA
		ZIP:			99354

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CENTURY PARK PICTURES CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0203</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2010-10-07</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000728387</issuerCik>
        <issuerName>IsoRay, Inc.</issuerName>
        <issuerTradingSymbol>ISR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001503593</rptOwnerCik>
            <rptOwnerName>Cavanagh William</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>350 HILLS STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 106</rptOwnerStreet2>
            <rptOwnerCity>RICHLAND</rptOwnerCity>
            <rptOwnerState>WA</rptOwnerState>
            <rptOwnerZipCode>99354</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Vice President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.84</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2020-01-08</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>30000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.43</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2020-06-30</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>common stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>35000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Vests 1/3 on 1/18/2011, 1/3 on 1/8/2012, and 1/3 on 1/8/2013.</footnote>
        <footnote id="F2">Vests 1/3 on 6/30/2011, 1/3 on 6/30/2012, and 1/3 on 6/30/2013.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>William Cavanagh</signatureName>
        <signatureDate>2010-10-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
