Odds are very strong Adcom is positive and label gets expanded, however nothing is guaranteed, FDA will question everything, the only thing they can hold their hat on is MO effect and they brought it up in design of trial because they had questions from previous trial so its not like it's not coming up. So it will be stressful with release of docs and then Adcom, and then still wait on FDA.
You don't say what your profit is now and where your loss point is, you mention losing on options so want to avoid those but there are conservative strategies that can minimize your loss and let you play the upside.
You could hedge your position, you could buy Nov Puts but may need to buy Jan Puts to cover FDA approval time. Unfortunately premiums are high.
BUT if you want to walk away with no worse than $12 a share buy the Jan $14 puts for about $2, cost you 70K so your profit if it collapses to below 10 is whatever your profit is at $12.
In the interim you could sell 11-1 $18 calls for 75 cents and reduce the Puts premium a bit, you could lose the shares if above 18 but with the raise at 18 the odds of it being above 18.75 is unlikely, worst case you've maxed out at 12.75 for profit. You then hold through end of year and things go well the $1-2 Put premium will reduce your profit but stock will likely be up $10 more.
If you do end up deciding to just sell it all I suggest selling weekly calls until it's above the price and then you could still sell right before Adcom. Price is probably 16-18 range bound here barring market collapse.
So sell 10-4 $17 for .20 cents, if it is below 17 keep the premium and sell the 11th or 19th and so on up to Nov 1 and then cash out.
You could also cash out and use some profits to buy Jan 21 $25 calls, keeps you in the game, and you have a set profit
