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Sage Therapeutics Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

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Sage Therapeutics (NASDAQ:SAGE), a clinical-stage biopharmaceutical
company developing novel medicines to treat life-altering central
nervous system (CNS) disorders, today announced that, on January 2,
2018, the Compensation Committee of Sage's Board of Directors granted
non-qualified stock options to purchase an aggregate of 144,800 shares
of its common stock to fifteen new employees under Sage's 2016
Inducement Equity Plan.

The 2016 Inducement Equity Plan is used exclusively for the grant of
equity awards to individuals who were not previously an employee or
non-employee director of Sage (or following a bona fide period of
non-employment), as an inducement material to such individual's entering
into employment with Sage, pursuant to Rule 5635(c)(4) of the NASDAQ
Listing Rules.

The options have an exercise price of $166.66 per share, which is equal
to the closing price of Sage's common stock on January 2, 2018. Each
option will vest and become exercisable as to 25% of the shares on the
first anniversary of the recipient's start date, and will vest and
become exercisable as to the remaining 75% of the shares in 36 equal
monthly installments following the first anniversary, in each case,
subject to each such employee's continued employment with Sage on such
vesting dates. The options are subject to the terms and conditions of
Sage's 2016 Inducement Equity Plan, and the terms and conditions of a
stock option agreement covering the grant.

About Sage Therapeutics

Sage Therapeutics is a clinical-stage biopharmaceutical company
committed to developing novel medicines to transform the lives of
patients with life-altering central nervous system (CNS) disorders. Sage
has a portfolio of novel product candidates targeting critical CNS
receptor systems, GABA and NMDA. Sage's lead program, a proprietary IV
formulation of brexanolone (SAGE-547), has completed two Phase 3
clinical trials in postpartum depression. Sage is developing its next
generation modulators, including SAGE-217 and SAGE-718, in various CNS
disorders. For more information, please visit www.sagerx.com.

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