The director says the script is ready and that he recently held a "summit meeting" with Universal and producer James Cameron, where he discussed the concepts and models for the sci-fi adventure. He also said that James Cameron is actively involved with production, and even offered notes on the script, pointing out discrepancies del Toro had previously not seen:
"In his subtle style he said to me, 'I have a few notes, but I have one fatal flaw [that I see in the script].' He pointed out one thing that was big. I've been thinking about this for 35 years, and he pointed out something I'd never seen."
The story is based on an H.P. Lovecraft novel which follows an expedition to Antarctica where the explorers discover ancient ruins of a lost civilization and a supernatural threat.