Iloprost, a drug that can prevent the need to amputate frozen fingers and toes due to frostbite, has been approved as a treatment for frostbite by the FDA. The drug has already been used to treat frostbite for years in a number of European countries and elsewhere in the world. It works as a vasodilator, widening blood vessels and improving blood flow. Iloprost prevents blood clotting and is also used to treat blood pressure-related illnesses.