Recent large-scale genetic studies have provided robust evidence implicating several novel susceptibility genes for schizophrenia. These include ZNF804A, TCF4 and NRGN, which contain common variants that weakly increase schizophrenia susceptibility, and NRXN1, in which rare copy number variants have a greater impact on schizophrenia risk. Investigation of these and other substantiated susceptibility genes are providing valuable insight into the primary neurobiological mechanisms underlying schizophrenia, which may lead to novel therapeutic interventions for the disorder. In the meantime, several novel pharmacological strategies, including activation of mGluRs, elevation of synaptic glycine and inhibition of phosphodiesterase 10A, have recently shown promise for the treatment of schizophrenia in clinical trials.