Enrollment complete in the Phase 3 MOUNTAIN Study evaluating SAGE-217 in the treatment of major depressive disorder (MDD); topline results expected in 4Q 2019

Sage Therapeutics (NASDAQ:SAGE), a biopharmaceutical company committed to developing novel therapies with the potential to transform the lives of people with debilitating disorders of the brain, today announced that the Company will participate in an Executive Conference Call Series hosted by J.P. Morgan on Thursday, October 3, 2019 at 10:00 AM EDT.

In conjunction with the webcast, the Company announced enrollment for the Phase 3 MOUNTAIN Study evaluating the efficacy and safety of SAGE-217 in patients with major depressive disorder (MDD) is complete. The Company expects to report topline results in the fourth quarter of 2019.

A live webcast of the call can be accessed on the investor page of Sage's website at investor.sagerx.com. A replay of the webcast will also be archived for up to 30 days on Sage's website following the conference.

About Sage Therapeutics Sage Therapeutics is a biopharmaceutical company committed to developing novel therapies with the potential to transform the lives of people with debilitating disorders of the brain. We are pursuing new pathways with the goal of improving brain health, and our depression, neurology and neuropsychiatry franchise programs aim to change how brain disorders are thought about and treated. Our mission is to make medicines that matter so people can get better, sooner. For more information, please visit www.sagerx.com.

Forward-Looking Statements This release contains certain statements regarding Sage's future expectations, plans and prospects, including the anticipated timing for reporting of top-line data from the MOUNTAIN study. These statements constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are neither promises nor guarantees of future performance, and are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements, including the risk that we may encounter issues or challenges in our collection, cleaning and analysis of the data from the MOUNTAIN study which could cause delay in reporting of results. Other risks related to our business are discussed in the section entitled "Risk Factors" in our most recent quarterly report filed with the Securities and Exchange Commission (SEC), and discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the SEC. In addition, any forward-looking statements represent our views only as of today, and should not be relied upon as representing our views as of any subsequent date. We explicitly disclaim any obligation to update any forward-looking statements.

Investor Contact Matt Calistri 617-914-2635 matthew.calistri@sagerx.com

Media Contact Alexis Smith 617-588-3740 alexis.smith@sagerx.com

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