The coronavirus disease (COVID-19) is a global pandemic. COVID-19 is caused by a novel coronavirus known as severe acute respiratory syndrome coronavirus-2 (SARS-CoV-2), which was identified at the end of 2019 in a cluster of pneumonia cases in Wuhan, China. It has likely affected everyone in the world either directly or indirectly, financially or through social isolation measures. There are now many publications about its etiology, epidemiology, investigations, and clinical presentation. Therefore, the medical community has a much better understanding of the disease as compared to a few months ago. There is no effective, safe treatment for COVID-19. There are many guidelines, clinical trials, and information on various media platforms that hinder the tracking of developments in this rapidly evolving situation. In this review, we provide a detailed update on various emerging treatment options and analyze the results of recent trials. This review also discusses current progress on finding a COVID-19 vaccine.