The England international suffered ligament damage during November's 2-1 defeat to Manchester United and was subsequently ruled out for three months after undergoing surgery.
According to one report in the British press on Monday, Wilshere was set to be sidelined for up to five months after falling behind schedule in his rehabilitation.
However, the club's communications director Mark Gonnella rubbished that suggestion, insisting Wilshere remains on course for a return early in the new year.
"Jack Wilshere has not had a setback. On schedule for return to squad as per original plan. 12 weeks from injury," he wrote on Twitter.
Wilshere is part of a lengthy injury list at the Emirates Stadium that also includes the likes of Mesut Ozil, Mathieu Debuchy and David Ospina.
