The story deals with a wimpy writer who becomes a bad-ass fighter of all things supernatural(The main character is not supposed to be renowned Horror writer H.P Lovecraft himself).
Howard is best known for his family friendly movies and most recently the poorly recieved adaptations of Dan Browns novels. The award winning director is aware of the challenges to come...
Howard says, "Look, it's challenging, but if we get it right, it could be really original and psychologically interesting and scary in a great way. And it's a graphic novel, this is new territory for me." Regarding the story elements of Lovecraft, Howard went on to say:
"It very cleverly uses H.P. Lovecraft in a fictional way, but there's some loose biographical elements. But it certainly has the flavor and the tone of Lovecraft. The character is a very young Lovecraft."

I have never read this, but I have read some of Lovecraft's stories, and they are creepy stuff. So lets hope that translates onto the screen and Howard doesn't make it too kiddie friendly.
Thanks to Firstshowing.net for the info.