Yes, because the new release isn't finished yet. It should be obvious that no new releases doesn't mean the game is abandoned or done, especially when the devs are regularly posting updates.
An update to Project Kat + Chapter 1 (the continuation) are currently in the works, you can find our updates on our twitter here!
Sadly we have full-time occupations and we can only work in our free time, hence the long wait :) Thank you for your patience though!
(and thanks to Benderesco for clarifying!)