BioWare have made the decision to not move forward with development of Shadow Realms from this point on.
BioWare have said that they want to focus their work on other projects. The Austin based studio is reportedly already working on their next projects and they are hopefully going to improve the quality of BioWare games in the future. These projects include Dragon Age: Inquisition, as well as the next game in the Mass Effect series and other new IP.
For all the people that registered for the Shadow Realms Closed Alpha, they are finding a way to say thank you for signing up. R.I.P Shadow Realms.