Psoriasis is a common chronic relapsing immune-mediated inflammatory disease affecting the skin, nails, and joints. Recent discoveries in its immunopathogenesis have led to the development of novel therapies and an advanced approach to the management of the disease. Currently, there is no cure for the disease, and the treatment involves addressing both the physical cosmetic symptoms as well as psychosocial factors due to its negative quality of life in patients. Newer therapeutics involving biologics, such as monoclonal antibodies and phosphodiesterase type-4 inhibitors, have evolved and these have given hope to patients for curing the disease completely. Further research is still required in the use of these novel approaches to treating psoriasis and reducing the treatment burden on patients. With so many new therapeutical options on the horizon, the future is bright for curing psoriasis and, overall, improving patient quality of life.