CD Projekt says it has concluded work on “defining a new framework” for Project Sirius.
The company said last October that it had “an innovative take on The Witcher universe” in development at The Molasses Flood, the American studio behind Flame in the Flood, which it acquired in 2021.
“The game will be set in The Witcher universe, but it differs from our past releases in that it targets a much broader audience,” CD Projekt CEO Adam Kiciński said at the time. “Sirius will provide both single-player and multiplayer gameplay.”
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However, in March, CD Projekt suggested it was going back to the drawing board with the game after re-evaluating its scope and commercial potential.
In a regulatory announcement, it told investors it had established an impairment allowance related to expenses incurred developing the project.
It said the value of the expenses incurred totalled 33.4 million PLN ($7.6m) in 2022 and 9.5 million PLN ($2.2m) in the first two months of 2023.
In an update on Thursday, CD Projekt said it has now set a new direction for the project and revised the above figures.
Defining a new framework for the project will result in a “partial reversal – 21.5 million PLN – of the impairment allowance on development expenditures related to the Project in 2022, which originally amounted to 33.4 million PLN and burdened the financial result of the Company and its Group in 2022”.
2.7 million PLN of the development expenditures related to the project in the first quarter of 2023 will also be written off.