Ivermectin is an anti-helmenthic (thanks House! [0]); it removes worms and is presumably harmful to biotic material. There's no particular reason why ivermectin should be especially effective against viruses, AFAIK. WP tells me that ivermectin acts by disrupting cell permeability and the osmotic balance, and that it is neurotoxic to mammals, which sounds about right for somethihng meant to kill parasites.
I'm glad that people are doing these experiments, but without a convincing "why" or mechanism of action, it's risky to imagine that an existing pill will neatly fit into this novel virus's way of life and death. It also makes me think of things like my emergency gout medication, colchicine, which is also a cellular toxin and cannot be taken for long periods of time. (Again, thanks House!)
[0] https://house.fandom.com/wiki/97_Seconds
[0] https://house.fandom.com/wiki/Occam%27s_Razor