The 41-year-old Broadway star's wife, Amanda Kloots, took to Instagram to provide an update on Friday. Cordero has spent more than 60 days in intensive care after contracting COVID-19.
"We have started stem cell treatment for Nick," Kloots announced in a video to her followers. "We decided on this a couple of days ago and the hospital got moving."
Kloots, who has kept fans informed of the actor's health issues since March, shared some positivity despite there being "absolutely no guarantees."
"This could be really great," she said. "I'm just hoping that it can help him. Even if it helps one percent, right? Even if it just bridges us to the next level of healing for him. I'm super excited about it and I can't wait to see if anything comes to it to help repair, strengthen Nick's lungs and get him any better."
The development comes days after Kloots revealed that doctors have told her he may not pull through.
"I’ve been told a couple times that he won’t make it. I’ve been told to say goodbye," Kloots said Wednesday. "I’ve been told it would take a miracle. Well, I have faith. Faith that is small as a mustard seed sometimes, but that is all you need sometimes."
Cordero's fight has consisted of a leg amputation and multiple mini-strokes while battling several other maladies.
Kloots received good news in May when doctors informed her that Cordero had woken from the medically induced coma he'd been in for weeks. Unfortunately, he quickly developed a new lung infection.
Fox News' Nate Day contributed to this report.