It turns out that Radical Entertainment will exist for a little while longer. Despite laying off pretty much all of Radical's employees yesterday, Activision has assured gamers that Prototype 2 will still release for the PC next month. After it releases, I think it's safe to assume that Radical will be gone for good.
Radical offered the following from their Facebook page:
We're very proud of what we achieved with the Prototype franchise, but unfortunately, the Blacklight virus didn't spread as far as it could. For PC gamers, rest assured that the PC version of Prototype 2 is still going to launch on July 24th as planned.
And a special 'thanks' to the Prototype Army and all our extremely loyal and passionate fans for supporting Radical Entertainment. We couldn't have come this far without you.
Best of luck to all of the Radical employees who lost their jobs yesterday. This is sadly becoming way too common of a trend.