In a big interview with the Guardian, the Bad Lieutenant director told the outlet that Warner Brothers had indeed committed to making the film, it's just that their commitment wasn't exactly generous:
"Warner Brothers have put up about one fifth of what the film should cost and want about one third of what it's gonna make, and I'm supposed to kiss the feet of whoever made that deal." Ferrara has a big laugh, which he employs often. This time, it comes out as a mirthless chuckle. "They never made Jekyll & Hyde the way it was written. It's a guy and his creation. Having one actor play both parts is an abomination, a distortion of Stevenson's story," he says. "It's a masterpiece. I'm gonna make it one day."
Sadly that one day just isn't going to be any time soon. That's disappointing, but it is good to hear that Ferrara is sticking to his guns, "The minute you have to raise one dollar, you're in a world of shit, a world of compromise. But I'm never gonna get to a point in my life where what it costs to shoot a movie is going to determine what it is."