You may remember that THQ and Volition have been working with Guillermo del Toro on inSANE, a Lovecraftian sandbox-style video game. Sadly, it seems like the game will never see the light of day, although there is a glimmer of hope if del Toro wants to take this game to another developer.
THQ has been running into financial troubles and is looking to focus on their core AAA properties. That means that they are cutting mobile, browser, and experimental titles, including inSANE. Here is an the official word from THQ president Jason Rubin: "We have decided not to pursue further pre-production on Insane, and have returned all of our IP rights to Guillermo del Toro"
When pressed for additional details, THQ told Joystiq that the game "was in very early development," and that "no teams/staff are affected by this decision." They also said that the "rights for the property have been returned to Guillermo for his future use/exploration", but it does not appear that he'll retain any of the code or work done on the game so far.
It seems unlikely that this game will move ahead, but it's really up to del Toro and a publisher who would be interested in taking on an original horror title. inSANE was first announced in 2010, but no specific details or in-game assets were ever released publicly.