Is it true that is the mist tv show based on the movie based on the following text?

The Mist is an American science fiction-horror thriller television series developed by Christian Torpe. It is based on the horror novella of the same name by author Stephen King. The series aired for one 10-episode season on Spike from June 22 to August 24, 2017. On September 27, 2017, Spike cancelled the series.
no