It's being reported that a drug by the name of chloroquine is showing very promising results in the treatment of the novel coronavirus. Chloroquine has been used to treat malaria in the past. The drug is decades old and is available for cheap. Bayer (OTCPK:BAYRY) is prepared to donate a large stockpile of the drug to be used as a treatment in the U.S.

Axios also is reporting this new very encouraging development. Chloroquine is not currently approved for novel coronavirus infections, but will more than likely be approved very soon to treat patients. In France, a professor conducted a small study of the malaria drug in 24 patients with novel coronavirus infections. Only 25% of those who received the drug tested positive for the virus after six-day of treatment. By contrast 90% of the patients that did not receive it tested positive.

This is a very small sample for sure, but it's a very promising one. This advancement could help calm the nerves of jittery investors.