Austin Butler is set to star in Luca Guadagnino‘s new interpretation of the book “American Psycho” by Bret Easton Ellis for Lionsgate.

While there had been persistent rumors that the part went to Jacob Elordi (“Priscilla”), it turns out that it’s gone to Butler. Elordi and Butler have something in common, having both played very different versions of Elvis in movies by Sofia Coppola and Baz Luhrmann, respectively.

The film, which features a script by Scott Z. Burns (“The Laundromat”), will not be a remake of the 2000 film, but a new adaptation of Ellis’ novel.

In the original movie, which came out in 2000 and is set in the 1980’s, Christian Bale stars as Patrick Bateman, a Wall Street yuppie and serial killer. Under the lens of Guadagnino, who’s best known for “Call Me By Your Name,” “Challengers” and most recently “Queer,” the new take on the book could have a larger erotic emphasis than the original horror satire. Guadagnino has also dabbed into genre in “Suspiria” and “Bones and All.” While Butler is attached to play the lead role in the movie, Guadagnino might have have interpreted the Patrick Bateman character in a much different way than its previous incarnation.

Guadagnino just wrapped the shoot of “After the Hunt” starring Julia Roberts and Andrew Garfield. His previous two movies “Queer” and “Challengers” turned up in the Golden Globes nominations. Daniel Craig (“Queer”) was nominated for best actor, while Zendaya is vying for best actress in “Challengers” which is also nominated for best motion picture (musical or comedy), and best music.