Adamas Pharmaceuticals Inc(NASDAQ: ADMS) stock almost doubled this year, generating over 103.6% returns in this year to date (As of December 22^nd, 2017; Source: Google finance). The stock still has a potential of over 52.9% as per five analysts’ consensus target price of $52.6.

The major trigger for the stock is the U.S. Food and Drug Administration (FDA) approval of GOCOVRI (amantadine) for the extended-release capsules (previously ADS-5102) for treating dyskinesia in patients with Parkinson’s disease receiving levodopa-based therapy, with or without concomitant dopaminergic medications. GOCOVRI, is the first and only medicine approved by the FDA for this indication.

GOCOVRI has proven itself in controlled trials to reduce both dyskinesia and OFF time in Parkinson’s disease patients receiving levodopa. Dyskinesia treatment and OFF time continues to be an unmet need in the medical management of Parkinson’s disease and the approval of GOCOVRI is a major step in that direction.

The group reported a positive topline data from the Phase 1b clinical trial of ADS-4101 (lacosamide) modified-release capsules. This shows that a 600 mg dose of ADS-4101, taken once-nightly, offering a 1.7-fold rise in average lacosamide concentrations throughout the day against the maximum approved daily dose of 400 mg, taken as 200 mg twice-daily (BID), of VIMPAT® (lacosamide) immediate-release tablets in healthy volunteers, with comparable tolerability. ADS-4101 is an investigational drug in developing the treatment of partial onset seizures in patents with epilepsy.

The group forecasts GOCOVRI’s orphan drug exclusivity to further recognize a future update of the Orange Book and would get $65 million in funding from HealthCare Royalty Partners with such update, as part of the $100 million royalty-backed note the company signed in May 2017. The group also got seven-years of orphan drug exclusivity from the FDA for GOCOVRI, which would be till August 24, 2024.

GOCOVRI (ADS-5102) Phase 3 EASE LID 2 open-label clinical trial showed tolerability and durability out to 88 weeks and a subgroup analysis showed that patients who underwent Deep Brain Stimulation also got the benefit from ADS-5102.