Warner Bros. is currently in the process of developing a third "Clash of the Titans" film.  

Even thought the second on the franchise, "Wrath of the Titans", will be released in 5 months, the studio is wasting no time laying out a plot for the third.  It is said that it will see a return of Perseus as well as a "sidekick" of sorts, Agenor.

"Wrath of the Titans" is slated for a March 30, 2012 release.