There's a "glimmer" of hope. but it's looking like a pretty faint glimmer. Some have suggested it's too late for the voyage to Mars. Others think there might still be a chance. The Russians aren't so optimistic.
Cheers to the ESA for being able to pick up the signal from the probe. If the problem is software related, it can be corrected. If it's hardware, the mission is hstory, although there's still the possibility that the mission could be changed to head for the Moon instead. It'll be interesting to see how it all pans out.