Things continue to move at a breakneck pace in the face of the coronavirus pandemic.

In the latest major development, which is largely being heralded as promising news, the Food and Drug Administration on Friday night approved the first "point-of-care" coronavirus test which can reportedly relay results in just 45 minutes, likely making it one of the fastest tests available. The FDA granted California company Cepheid an "emergency use authorization" for the rapid molecular test.

Currently, it can take days for results to be delivered, but, per The Washington Post, the Cepheid tests mean many people will not even have to leave their doctor's office (or wherever the test is administered) before finding out if the test is positive or negative. Fast results could provide a big relief on the health-care system — which is on its way toward being overwhelmed by the pandemic — because doctors will be able to quickly decide which treatments are appropriate for patients.

Cepheid plans to begin selling the tests at the end of the month. Read more at The Washington Post. Tim O'Donnell