As the dawn of this new decade has begun, we have faced our arch-nemesis right at the start in the form of Coronavirus also known as COVID-19. Since its origin from Wuhan, China, it has been declared a pandemic and has affected several countries worldwide. This review article summarizes all the research, techniques, strategies, and treatment methodologies that are taking place internationally in the current frame of time. The road to developing a viable and effective vaccine has many hurdles that we have to pass through. Modern research has identified the receptor ACE2 that is common in both SARS-CoV and SARS-CoV-2. This homogeneity gives us a lead because we have an enormous amount of genomics and proteomics’ data related to the original strain and other viruses of the subfamily beta-coronaviruses like MERS etc. Furthermore, the organization of the genome of this novel strain, as well as future perspectives of therapeutic procedures like by utilizing stem cells for immunomodulation derived from mesenchymal lining and many other viable options in the treatment of the virus have been briefly enlisted.