Story highlights Tom Cruise broke his ankle on the set of the latest 'Mission: Impossible' film, causing a halt in production

The film is still set to be released on July 27, 2018

(CNN) Production on the latest installment of the "Mission: Impossible" franchise is on hold as star Tom Cruise recovers from an ankle injury sustained on set, the film's studio confirms to CNN.

"During production on the latest 'Mission: Impossible' film, Tom Cruise broke his ankle while performing a stunt," Paramount said in a statement to CNN.

They added that filming will "go on hiatus while Tom makes a full recovery," but that the movie is still on track for its original release date -- July 27, 2018.

"Tom wants to thank you all for your concern and support and can't wait to share the film with everyone next summer," the statement added.

Director Christopher McQuarrie added on Twitter on Wednesday that the star was "on the mend."

Thank you all for your support and concern. Tom is on the mend and MI6 is on track for 07.27.2018 https://t.co/c4XqsEuRh4 — ChristopherMcQuarrie (@chrismcquarrie) August 16, 2017

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