Well, THR reports that it is being adapted for TV on CBS.
Apparently, it will not star Gyllenhaal's character, but center on three former Federal agents who use the top secret technology to travel back into the memories of those involved in tragic events. They seek to discover answers that may avert further crisis, such as seen with the movie, and in doing so - this creates parallel worlds.
It's similar in concept to Quantum Leap - with a Scott Bakula easter egg included in the movie, as well.
Good stuff. Definitely worth a rental.
Mark Gordon (Grey's Anatomy, Criminal Minds) will be on as producer with Steve Maeda (Lie to Me, Lost) on board to write.