The Ghosts star and co-creator had told Variety last week that the project was "delayed indefinitely" due to the fact that star Timothée Chalamet was "not sure about timing or what he wants to do next."
But Farnaby has now reassured fans that this isn't the case, clarifying that "everyone is is working really hard" and that "WB are committed."
He added that he and King had already written a "great script" and that it was simply a matter of finding the right time to move ahead with production.
The first film became a huge box office success when it was released in December 2023, making more than $600 million worldwide and attracting mostly positive reviews from critics (including a 4-star write-up from Radio Times.)
View Green Video on the source websiteThe all-star cast also included major roles for the likes of Keegan-Michael Key, Mathew Baynton, Sally Hawkins, Rowan Atkinson and Olivia Colman, whle Hugh Grant memorably starred as an Oompa Loompa.
The film is titled Ghosts: The Possession of Button House and will be released on 23 October, with plot details having been kept under wraps thus far.
Check out more of our Film coverage or visit our TV Guide and Streaming Guide to find out what's on. For more TV recommendations and reviews, listen to The Radio Times Podcast.
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