The injury has meant that Folan will miss the Ireland qualifiers against Wales and Slovakia after receiving his first international call up. Wolves' striker Andy Keogh has been called up by Steve Staunton to replace Folan.
Alan Tomlinson, head physio at the club, commented that the injury is not as bad as it looked when Folan was stretchered off and he is hopeful that the £500,000 man will be back in training next week.
He told the club's official website: "Caleb is managing early stage rehabilitation without any reaction, which is a good sign and we're hoping that after a few days of work this week, he will hopefully be in a position to start training again with the rest of the squad next week. We'll assess the injury day by day."
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