Zach Galligan, who played Billy Peltzer in the two Gremlins films revealed,

They’ve come up with a script. Warner Bros. is incredibly interested in doing it. Apparently, it’s waiting on Mr. Spielberg to read it and improve it, but, you can thank the success of Beetlejuice Beetlejuice.

This is interesting because director Joe Dante purposefully made Gremlins 2 really wacky so they they couldn't make a third film.