According to a registration (which can be viewed below) with the United States Patent and Trademark Office, on January 13th Microsoft filed for a trademark for “Phantom Dust.”
The mark is filed under Class 9 and Class 41, Identifying game software and online game software.
Its worth mentioning that Class 41 doesn’t completely mean that. If we’re talking about a new game it’ll usually mean an online game feature such as leaderboards or something similar to that. Also another thing worth bringing up is that Microsoft still has a live class 9 trademark filed for Phantom Dust(2003) Still.
The Phantom Dust reboot was announced in 2014 at E3, but has been in Limbo since the developers Dark Side Games shut down. However, Microsoft has insisted that Phantom Dust was still in development.