Knight takes on the role that was originated on screen by Efron. "Glee" and Hedwig star Darren Criss played "Young Mike" in a previous reading of the musical that has a score by First Date and Secondhand Lions songwriters Alan Zachary and Michael Weiner.
The stage musical has a book by Marco Pennette. Warner Bros. Theatre Ventures is producing the show.
The musical focuses on a man, unhappy with how his life has turned out by the time he's 37, who wakes up as his 17-year-old self and is given a second chance to rewrite his story.
Tony nominee Will Swenson played the adult version of "Mike" in the latest reading.
The cast also featured Tony Award nominee Kate Baldwin, Tony nominee John Cariani, Ann Harada, Nikki Bohne, Anthony Chatmon, Nolan Gerard Funk, F. Michael Haynie, Samantha Hill, Carly Hughes, Elizabeth Judd, Raymond J. Lee, Michael Mandell, Susan Mosher, Sydney Shepherd, Matthew Stocke, Ryan Vasquez and Barrett Wilbert Reed.
No post-reading plans for the show have been announced.