Turn on some Huey Lewis and the News, because we have a new Patrick Bateman on the way. With acclaimed director Luca Guadagnino gearing up for his new interpretation of Bret Easton Ellis’ iconic book, American Psycho, Oscar-nominated actor Austin Butler is set to take on the central role.

According to Variety, Butler won the role over competition such as Jacob Elordi, who was rumored to be in final consideration as well.

Rather than a remake of the 2000 film, which starred Christian Bale, Guadagnino’s take on the story is a re-interpretation of Ellis’ source material. Scott Z. Burns is responsible for the new script. American Psycho is centered on Bateman, a Wall Street yuppie operating with barely-concealed violence; while the Bale film is a dark satire, there’s a chance Guadagnino could offer a new layer to the story, if his use of eroticism in cannibal love story Bones and All is any indicator.