According to a report at Joystiq, Remedy has confirmed that it is indeed working on more Alan Wake content. Interestingly, though, the developer points out that it's not working on a direct sequel, and it's also not extra downloadable content for the original Alan Wake.
"Fans of the franchise will be excited to learn that, yes, more Wake is coming!" said Remedy's Oskari Häkkinen in a statement issued to Joystiq. "But to be absolutely certain to avoid confusion, this next Wake instalment will not be Alan Wake 2. But neither will it be DLC."
This follows recent news that the title 'Alan Wake 2' surfaced on an CG character animator's resume recently.