After John Carter flopped, Andrew Stanton is set to return to Pixar to direct a follow-up to Finding Nemo.
According to Deadline.com, the Oscar-winner has conceived a storyline for a sequel and development should begin later this year.
Pixar has not commented on the reports, however, and Stanton himself took to his personal Twitter to assert: "Don't believe everything you read."
However, it is widely believed that Pixar will begin working on a sequel to the tale of a clownfish's disappearance, and his father's desperate quest to find him.
The original Finding Nemo is re-released in 3D in September, and it is thought the sequel would be scheduled for 2016.