By what was from all accounts a mistake by Sony, the company allowed the trademark for The Last Guardian to lapse last month, leading many to wrongfully believe that the game had been abandoned.
Sony's Shuhei Yoshida issued a statement a week later to say that the game had not been abandoned, but admitted that the studio at Team ICO was indeed "re-doing" much of the game, hence why nothing had surfaced of The Last Guardian since it made its showing at E3 a few years back.
Today, it was revealed (via Superannuation) that Sony filed another application for The Last Guardian on the same day the previous trademark had lapsed and that the company had simply been playing by the rules to prevent the trademark from being actually abandoned as they hadn't been able to push an "Amendment to Allege Use" or a "Statement of Use" in time to prove their continued interest in the trademark.
The Last Guardian may not be abandoned, but it doesn't seem likely that the game will make it out for this generation of consoles given the setbacks in its development, either.