John Davis and Adam Schroeder will produce the film penned by Max Landis; Josh Trank has signed on for his directorial debut.
"Chronicle" will follow three Portland teenagers who have gained powers from exposure to a mysterious substance. No other details have been released.
DeHaan received an Obie Award for his performance in Annie Baker's The Aliens. He made his Broadway debut in 2008 with American Buffalo, but is best known for his recurring role, Jesse, on HBO's "In Treatment."