The 36-year-old singer is reportedly preparing to release solo material after 18 years with his band following their decision to go on an extended hiatus in 2013.
A source shared: ''Tom didn't want to rush his first record. He wanted it to be perfect.
''He's taken his time and now feels he has the makings of an album that can withstand the comparisons to Keane's amazing back catalogue.''
The 'Somewhere Only We Know' hitmaker is said to be planning to release his debut album - which will reportedly draw on his personal experiences of drug addiction - through Island Records just in time for Christmas.
The source added to The Sun newspaper: ''Tom isn't afraid to get personal on the album.
''His bandmate Tim Rice-oxley wrote the majority of Keane's tracks so Tom didn't always get the chance to explore his inner demons. Now it's his project he feels a lot more liberated.
''There will be more lyrics about his own struggle than ever heard on the band's records.''
Corgan took to Instagram to confirm rumours of new Pumpkins material, saying the first songs could arrive as early as May.