The reading of the psychological drama, produced by Debbie Bisno, will also feature the talents of America Ferrera, Pablo Schreiber and Kimberly Elise.
The New York Times had previously reported that Bisno and Ray Gaspard were hoping to mount the drama on Broadway later this season or during the 2011-12 season.
Extremities made its Off-Broadway debut in 1982 at the Westside Theatre with Susan Sarandon in the lead role. Farrah Fawcett later succeeded Sarandon and subsequently played the role on film.
Katie Holmes has been seen on screen in "Batman Begins," "Disturbing Behavior," "Teaching Mrs. Tingle," "Pieces of April" and "Dawson's Creek."