Bristol-Myers Squibb Company BMY announced updated data from the phase III CheckMate -651 study which is evaluating the combination of Opdivo (nivolumab) and Yervoy (ipilimumab) compared to the EXTREME regimen (cetuximab, cisplatin/carboplatin and fluorouracil) as a first-line treatment in platinum-eligible patients with recurrent or metastatic squamous cell carcinoma of the head and neck (“SCCHN”), a difficult-to-treat cancer.Data from the same showed that treatment with the combo of Opdivo+Yervoy led to a clear, positive trend toward overall survival (“OS”) in patients whose tumors express PD-L1. However, the study did not meet its primary endpoints.Shares of Bristol Myers have rallied 8.5% so far this year against the industry’s decrease of 2.8%.Image Source: Zacks Investment ResearchWe remind investors that Opdivo as a monotherapy is currently approved for treating adult patients with recurrent/metastatic SCCHN after platinum-based therapy.Per the company, the combination of Opdivo plus Yervoy has demonstrated significant improvements in OS in six late-stage studies evaluating the same across five different tumors.Opdivo is approved in several countries for various indications — unresectable or metastatic melanoma, metastatic non-small-cell lung carcinoma (“NSCLC”) with progression on or after platinum-based chemotherapy, metastatic small cell lung cancer with progression after platinum-based chemotherapy, advanced renal cell carcinoma (“RCC”), adult patients with classical Hodgkin lymphoma (cHL), and recurrent or metastatic squamous cell carcinoma of the head and the neck, among others.It is also approved for various indications in combination with Yervoy, like metastatic melanoma, NSCLC, malignant pleural mesothelioma and RCC, among others. The company continues to evaluate Opdivo alone or in combination therapies with Yervoy and other anti-cancer agents.Approval of additional indications should boost Opdivo sales, which were not impressive in the first quarter of 2021. Notably, the drug faces stiff competition from Merck’s MRK Keytruda and Roche’s RHHBY Tecentriq.Zacks Rank & Stock to ConsiderBristol Myers currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the biotech sector is Repligen Corporation RGEN, which sports a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Repligen’s earnings estimates have been revised 2.3% upward for 2021 and 1.2% upward for 2022 over the past 60 days. The stock has increased 4.5% year to date. 5 Stocks Set to Double Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roche Holding AG (RHHBY): Free Stock Analysis Report Bristol Myers Squibb Company (BMY): Free Stock Analysis Report Merck & Co., Inc. (MRK): Free Stock Analysis Report Repligen Corporation (RGEN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research