It's not an outright cancellation, but in their latest earnings call embattled publisher THQ confirmed that they will no longer be publishing Devil's Third, the Japanese action game in development at Ninja Gaiden creator Tomonobu Itagaki's Valhalla Studios.

GI International reports that THQ CEO Brian Farrell explained on the call that "profitability profile of Devil's Third no longer meets our internal threshold." and mentioned unforeseen development issues and exchange rate fluctuations as the main reasons behind the decision.

THQ is said to be in talks with other publishers about picking up the game, but its fate is far from certain.