The Attack the Block helmer is attached to 20th Century Fox's adaptation of the Archaia graphic novel, according to The Hollywood Reporter.
Royden Lepp's books are set on a planet struggling to find its way after a devastating war.
A family of farmers finds itself in danger's way when a young, jetpack-wearing boy crashes on their land.
Archaia recently announced Rust vol 2: Secrets of the Cell.
Simon Kinberg (X-Men: First Class) is producing. Cornish is expected to join formerly-announced screenwriter Aline Brosh McKenna (The Devil Wears Prada) on the development of the script.
Cornish is also working on a film adaptation of the sci-fi novel Snow Crash.
Chronicle director Josh Trank has been confirmed for Fox's Fantastic Four reboot, while David Slade has departed its upcoming Daredevil movie over scheduling conflicts.