We know that Tom Hanks is always working on a dozen projects at the same time… One he's been trying to develop since 2009? Major Matt Mason. Tom Hanks has been working on bringing the classic 60's astronaut action figure Major Matt Mason to the big screen with the help of Justified showrunner and Speed screenwriter Graham Yost, with whom he has co-wrote the script. They had already worked together on the miniseries From the Earth to the Moon, Band of Brothers and The Pacific. Robert Zemeckis (Forrest Gump, Cast Away, The Polar Express, Back to the Future) came on board to direct last year.

According to TheWrap, Major Matt Mason is moving forward and seeking funds from independent financiers.
Universal Pictures is reportedly handling domestic rights to this movie when it's finished, but the production still needs to secure funding for a production budget. 

Graham Yost gave some details to FirstShowing.net back in Janurary :

"The story is set on the moon, near future, and it's a team of people on a base on the moon, on the south pole of the moon. And of course everything goes wrong. There's no bad guys. There's no aliens. Nothing like that. It's just, can you survive? It's really fun, and it's just been a blast working with Tom on that. We had such a good time on From Earth to the Moon that it's sort of like, 'We've got to go back to the moon. Some way, somehow, let's go back to the moon.'"