We had earlier reported that noted filmmaker Luca Guadagnino will be helming a new adaptation of Bret Easton Ellis' book American Psycho. It has now been confirmed that actor Austin Butler is set to star as the infamous serial killer Patrick Bateman in the upcoming film for Lionsgate.

Ellis' book was adapted by Mary Harron in the 2000 film of the same name, starring Christian Bale, Willem Dafoe and Jared Leto. The latest adaptation, features a script by award-winning screenwriter Scott Z Burns, known for The Laundromat and will be produced by Frenesy Films and executive produced by Sam Pressman, the son of the original film's producer, Edward R Pressman.

There was much speculation that the Queer director would cast Jacob Elordi in the lead. It is not known why the actor was not onboarded onto the cast but Butler and Elordi share a similar connection as they have played very different versions of rocker Elvis Presley in movies by Sofia Coppola (Priscilla) and Baz Luhrmann (Elvis).

While details about the screenplay has still been kept under wraps, it has been reported that Guadagnino will take the erotic route for the adaptation of the novel. Other members of the cast and crew are yet to be announced.

Guadagnino, known for I Am Love, Suspiria and the Academy Award-winning Call Me By Your Name, is currently in the postproduction of the Julia Roberts starrer After the Hunt. He last made Queer, starring Daniel Craig in the lead role which premiered at the 81st Venice International Film Festival was released in the United States in a limited theatrical release on November 27.