The plan now is for Wood to use the ointment for two days, and hopefully be able to throw on Wednesday.
"The report was that it was a blister and nothing more," Cubs manager Lou Piniella said.
Wood is hoping to avoid having to go on the disabled list, something that was discussed over the weekend.
"We talked about it a little bit in Houston, but I don't think it's necessary," Wood said. "It stinks not throwing, but what's frustrating is going on the DL not knowing if you're going to throw a baseball again. I know I'm going to throw again, but I have to be patient with it."
The Cubs are going with 11 pitchers while Wood heals. Left-handed reliever Scott Eyre, who has been on the DL because of a groin strain, is ready to be activated but there has been no need.
On Tuesday, pitcher Jon Lieber, on the DL with a strained foot, will throw three innings at the Cubs' Spring Training complex in Mesa.
Angel Guzman, a highly regarded pitcher in the Cubs system who underwent Tommy John elbow reconstruction surgery last year, will also throw a simulated game on Tuesday in Mesa. Guzman has been throwing on the side for nearly two months.
"Everything is good," Guzman said Monday.
Carrie Muskat is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.