Saved by the Bell's Dustin Diamond has been diagnosed with cancer.

Following news of his hospitalization earlier this week, Diamond's team confirmed the actor's diagnosis on Thursday.

"We can confirm that Dustin does have cancer," the actor's rep tells PEOPLE. "It's very serious, though we are still waiting for more details, which we will have shortly."

"He's in a lot of pain," the rep adds.

Diamond's rep told Entertainment Weekly that the star is "undergoing chemo" for cancer and will remain at the hospital for "at least another week and then we will figure out when he gets to come home."

"By next week, we'll have a much better understanding of the severity of his condition and what treatments he will need so that he's comfortable," the rep told the outlet, adding that when he first arrived at the hospital, Diamond was "was fading in and out, feeling sleepy and tired."

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