Luca Guadagnino is in final negotiations to helm a new film adaptation for Lionsgate of author Bret Easton Ellis’ 1991 novel, American Psycho. The book was famously adapted to film by director Mary Herron in 2000, a critically acclaimed feature which starred Christian Bale as the iconic Patrick Bateman.

Scott Z. Burns is writing the script, which is said not to be a remake of the first adaptation but rather a new take on the novel. The project is being produced by Frenesy Films and by Sam Pressman of Pressman Films (his father, Edward R. Pressman, produced the 2000 movie).

“We are thrilled to add another elite filmmaker to our upcoming slate,” said Lionsgate Motion Picture Group chair Adam Fogelson in a statement. “Luca is a brilliant artist, and the perfect visionary to create a whole new interpretation of this potent and classic IP.”

Guadagnino’s is best known for helming Call Me By Your Name, Bones and All, and Challengers. The filmmaker’s next movie, Queer, stars Daniel Craig and is due to release November 27th via A24. The filmmaker is currently in postproduction on After the Hunt, which stars Julia Roberts and Andrew Garfield.

Burns most recently worked as creator on the Apple TV+ series Extrapolations, which starred Meryl Streep, Sienna Miller, Kit Harington, Edward Norton, Diane Lane and Daveed Diggs. Burns also helmed the 2019 Amazon movie The Report and has writing credits including The Bourne Ultimatum, Contagion, and The Laundromat.

Stay tuned for more updates on this new American Psycho adaptation as we hear it.