Wilbraham could not expand further on the update but suggested the good news could be in regards to Cotterill's return to work, in some capacity.
The manager, who was only appointed in late November, has been away from the club for more than four months while battling severe ill-heath.
Near 50 days of that were spent in Bristol Royal Infirmary Hospital, including a weekend in intensive care, while he was battling Covid-19 and Covid-pneumonia.
But Cotterill has been back home for a number of weeks now and growing in strength each day. The manager has remained influential in his leading of the team and club from afar throughout.
Chief executive Brian Caldwell had suggested that Cotterill's return to work in person may not be until next season. But the club have been careful not to give a date.
Shrewsbury have five matches in League One remaining this season. They are 18th on 50 points and not quite mathematically safe from relegation, having lost three games on the spin.
Wilbraham said ahead of Town's trip to Blackpool on Saturday: "He's getting stronger all the time, we speak frequently, he still has a lot of instructions to follow from specialists.
"He's still having X-rays, CT scans, lung tests, but they are lowering his medication and things are all heading in the right directions, he's definitely taking more positives steps each day.
"I think he's been raring to come back since the first day it came about, on that side of it there could probably be good news to follow at some point."