According to latest rumors Olympus is testing a new type of PEN camera, the camera is rumored to feature a newly customized CMOS sensor with same size like the original film pens,
part of the article published at 43rumors.com
The pen line isn’t discontinued, rather it’s being taken back to it’s roots. One of the mockups has the sensor in a portrait orientation like the original film pens, the space saved by the shutter traveling sideways rather than vertically allowing a viewfinder above it (still in the center line of camera, which is hard to do with the vertical running shutter, almost all other mirrorless have the EVF on the left hand edge or a hump because of it).
But the source who published the information also suggest that the Olympus management may not approve the camera for final production because it’s too much “risk”.