Now that I have officially calmed down, I can bring this great news to you guys! In the article that I've linked to below, the founder and CEO of THQ Nordic states that they've purchased the rights to this IP after numerous fans messaged them about bringing this series back. He specifically mentions the upcoming Nintendo Switch as being a good fit for Sphinx, and also mentions two other projects in development for the system.
Imagine how amazing a potential new game would look on a console as powerful as the Switch. I honestly think the long wait was worth it, since now the sequel(s) can incorporate amazing graphics and innovative gameplay ideas. I made sure to check multiple sources to confirm this (better to be safe than sorry!)
It might be awhile before we actually hear anything regarding a new game, but it's nice to know the the IP is still out there and that gamers and game developers alike don't want this series to be forgotten.
Here's a link to one of the articles: http://www.playstationlifestyle.net/2016/12/05/thq-nordic-acquires-sphinx-and-the-cursed-mummy-legends-war-ips/