In October 2020, Smashing Pumpkins head honcho Billy Corgan announced via YouTube that the as-of-yet untitled album would be a follow up to 1995's Mellon Collie and the Infinite Sadness and 2000's Machina, describing it as "kind of like a rock opera." The album presumably wraps a trilogy of music that Corgan began writing after Smashing Pumpkins' landmark second album Siamese Dream in 1993.
Schroeder told host Anne Erickson there was "nothing [he] can give details on quite yet" regarding the album, but did note that the Pumpkins had "some pretty exciting announcements [to make] at some point…" though he didn't elaborate.
I think we can safely rule out a reunion with original bassist D'Arcy Wretzky given their rocky history, but who knows! Stranger things have happened. You can listen to the full interview with Jeff Schroeder below.