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Experimental and clinical studies are exploring the therapeutic potential of MSCs and derived exosomes in moderating the mortality and morbidity of COVID-19. However, more preclinical and clinical studies are needed to develop a successful exosome-based treatment solution for patients affected by COVID-19. Additionally, renewed interest among research professionals regarding the applicability of exosomes has been observed amidst the pandemic, and research efforts are targeted towards developing effective and safe therapeutics for combating COVID-19 associated diseases as well. As of November 2020, seven clinical trials have been submitted to evaluate the safety of exosome-based therapeutic strategies on COVID-19 positive patients.