Despite a grassroots campaign that saw director Guillermo del Toro and star Ron Perlman both come out publicly with the desire for a Hellboy 3 just weeks ago, which got significant response from fans on social media, the director broke the news Tuesday morning that it was definitely not happening.
"Hellboy 3 sorry to report: Spoke with all parties. Must report that 100% the sequel will not happen. And that is to be the final thing about it," del Toro posted to twitter.
The tweet has a sense of true finality and defeat to it - it's clear del Toro was willing to make this movie as a passion project (meaning he likely would've made little to no money on it), but something major is standing in the way. With the finality, it sounds like either the studio or the rights holder, creator Mike Mignola, have nixed it completely - though that's merely informed speculation.
Hellboy 3 Not Happening According to Guillermo del Toro