There is now new hope in finding a cure for COVID-19 with Pfizer's possible vaccine breakthrough and the Food and Drug Administration giving emergency use to an antibody treatmen.

The news comes as coronavirus cases continue to skyrocket across the country, as well as on Long Island.

The United States has yet to "turn the corner" on COVID-19. But Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases believes the recent news of the vaccine is good.

"Help is on the way with a vaccine," says Dr. Fauci. "It's more than 90% effective, which is extraordinary and will play a major role in what the outcome of this is going to be."

Pfizer says that rate is based on early research done on more than 43,000 study participants and could change.

"I think that the likely based on impact that would be the greatest medical advance in the last hundred years, if you think about it, right?" says Pfizer CEO Albert Bourla.

So what's next for Pfizer?

The company will begin testing in children in January. Pfizer must collect the recommended two months of safety data before moving forward.

The FDA’s scientific advisers will debate each company’s study findings in a public meeting before the agency decides.

Then the drug-maker says it hopes to be able to seek emergency use authorization from the FDA before the end of the month.

Despite the progress toward an effective vaccine, medical experts say people still need to be vigilant.

"I am, as we all say, cautiously optimistic. The caution arises from how we still have a few more hurdles to overcome. While we know that it's working, we still need to get to our final destination of looking at what happens long term," says Dr. Doctor Mundeep Kainth, of Cohen's Children's Medical Center.

Another sign of advancement is the FDA's approval of Eli Lilly coronavirus treatment for emergency use after research found the antibody appears to treat mild and moderate infections.

Some Long Islanders whom News 12 Long Island spoke with on Tuesday say they are feeling more hopeful today, but want more information before considering taking a vaccine.