No, Square hasn't announced anything more about arguably the most beloved game in the Final Fantasy franchise.  This particular installment in the series has been subject to many online arguments, video game cameos, and even a Steam remake back in 2012 and is now being re-imagined as a 2D side-scrolling beat 'em up.

This version of the game is being developed by Final Fantasy fans over at PD Design Studio and a playable demo has been made available on the game's official website to try out.  Gameplay elements such as summoning guardians and utilizing Materia have been incorporated to enhance the Hack and Slash genre that this game follows.  As of right now, only Tifa and Cloud are playable characters, (but can also be played together in co-op), with Barrett being used as a support character.  No news on the incorporation of characters like Yuffie or Aeris/Aerith so we'll have to wait until the official release to find out.

Check out some screenshots and a gameplay video below:

[gallery ids="162879,162880,162881,162882"]

https://www.anrdoezrs.net/links/3607085/type/dlg/sid/UUhgUeUpU43298/https://www.youtube.com/watch?v=-vyDq1WQ24I