"Ballerina" will be set in the same world as the "John Wick" franchise but will focus on a different character.
The film will follow a young female assassin seeking revenge against the people who killed her family.
The script for "Ballerina" was co-written by Hatten and Len Wiseman, who will also direct the movie.
Hatten described the film as a "total bada** revenge story" and promised plenty of action.
The character of the Ballerina was first introduced in a cameo in "John Wick: Chapter 3 – Parabellum."
Hatten said that the Ballerina was "born fully formed" in his mind and that he immediately knew he wanted to tell her story.
The film has been in development since 2017 and has gone through multiple iterations.
Hatten said that the final version of the script is "pretty different" from the initial drafts, but he's excited about where it ended up.
There's no word yet on who will play the lead role in "Ballerina," but Hatten said that he's excited to see who they cast.
The film is still in pre-production, so it's unclear when it will be released.