In summary, we report seven genome-wide significant schizophrenia associations (five of which are new) in a two-stage analysis of 51,695 individuals. We also report loci that confer susceptibility to both bipolar disorder and schizophrenia. The association near MIR137, associations in multiple predicted MIR137 targets and the known role of MIR137 in neuronal maturation and function together suggest an intriguing new insight into the pathogenesis of schizophrenia.