A third Ant-Man film is in the works at Marvel Studios.

According to The Hollywood Reporter, franchise director Peyton Reed will helm the latest installment. Details about the story and returning characters are being kept under wraps, in typical Marvel fashion, though Paul Rudd will likely reprise the lead role.

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Reed was largely a comedy director before working on Ant-Man and Ant-Man and the Wasp. A few of his past feature films include 2000's Bring It On, 2006's The Break-up and 2008's Yes Man.

A release date has not been confirmed, but Marvel Studios is reportedly eyeing 2022, with plans to start production in late 2020 or early 2021. If the film does indeed release in 2022, that sets it in Phase 5. Black Panther 2 will also release that year, with Captain Marvel 2 and Guardians of the Galaxy Vol. 3 to follow at as-yet unannounced dates.

Rumors of Ant-Man 3 have circulated since Ant-Man and the Wasp hit theaters last year. Michael Douglas, who plays Hank Pym in the films, revealed the film was in early stages back in February at the TCAs: “There's been talk [about another Ant-Man]... [but] there's been nothing formal right now that I know of,” he said at the time. “They always kind of spring it on me. The first time you hear about it, it's already in its third rewrite.”

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