Deadline:

We have confirmed that the SCTV alum and comedy star of such hit pics as Ghostbusters, The Flintstones, Spaceballs, Parenthood has closed a deal to return to the next Honey, I Shrunk the Kids sequel Shrunk. The movie will be made for the theatrical side, not Disney+.

Disney was trying to quiet rumors that Moranis was returning, but our breaking news today is that Rick Moranis’ deal, is a done deal.

As previously reported, the pic’s original director Joe Johnston will be back with Josh Gad also starring. The movie centers around Gad’s character who is the son of Rick Moranis’ Wayne Szalinski. Son is aspiring to be a great scientist like his father, but accidentally shrinks the kids.

Rumors about this had circled for a bit, with fan site The DisInsider reporting this casting earlier this month.

Hopefully, the plot for Shrunk is closer to how Deadline describes it, and not as incredibly depressing as The DisInsider reported it:

Aware that the family ties have loosened over time but seemingly afraid to confront anyone directly. He has been tinkering alone in his attic for decades, dealing with the grief of losing his wife. When we first meet him, he has accidentally shrunk himself and is flying around on a shrunken drone — seemingly lost in a continuous of tinkering and experimenting that often puts himself and his family in jeopardy. He later reveals he shut himself away to try and invent a solution to help shrink Diane’s cancer but found it hard to cope when he ran out of time. His guilt and shame is palpable. Through the crisis of the kids getting shrunk, the truth emerges and the bonds begin to redevelop between him and his kids.

Yeah. Yikes.

We’ll see when Shrunk hits theaters.