The Navy has a program call “Navy’s Advanced Low Cost Munition Ordnance” or “ALaMO”
Justification as provided to Congress is here. The proposed budget includes $5.759M in FY2017, $25.984M in FY2018, and $24.982M in FY2019. The round is expected to be operational in 2020 (about the time the first OPC comes out).
“Advanced Low Cost Munition Ordnance (ALaMO) significantly increases 57mm MK 110 Gun Mount lethality and effectiveness against Fast Attack Craft and Fast In-Shore Attack Craft (FAC/FIAC). The 57mm ALaMO funding supports non-recurring engineering, design verification testing, environmental qualification, hazard classification, insensitive munitions and developmental testing. ALaMO will be qualified for USN use at the conclusion of the program.”
A US Naval Institute News story, “Wrapup: HASC Passes FY2017 Defense Bill With Reagan-Era Spending Levels,” indicates House Armed Services Committee interest in speeding up the program.
“A provision in the bill notes interest in the Navy’s Advanced Low Cost Munition Ordnance (ALaMO), a 57mm guided projectile that could be used on the LCS, and requests information on what it would take to achieve initial operational capability by 2019.”
Sounds like the Coast Guard should have a few of these rounds as well, both for small, fast, highly maneuverable targets, and to target specific areas on larger targets. We had some indication this was coming before.
Chuck Hill's CG Blog 
The new projectile has passed critical design review. Plus the post refers specifically to the NSC and OPC, so we have not been forgotten. http://insideunmannedsystems.com/l3-mustang-technology-passes-u-s-navys-cdr-guided-projectile-program/
“L3 Mustang’s ALaMO program has successfully demonstrated this capability in tests at the U.S. Navy’s Potomac River Test Range in Dahlgren, Virginia, by hitting a moving surface target at significantly longer ranges than possible with unguided projectiles. This improved accuracy allows for a significant reduction in cost and adds depth to the ship’s magazine by requiring fewer rounds per target.
“L3 Mustang was competing against BAE Systems and its ORKA 57 mm guided smart ammunition.”
https://www.navyrecognition.com/index.php/news/naval-exhibitions/2018/sna-2018/5847-l3-to-provide-alamo-57-mm-guided-smart-ammunition-for-us-navy-lcs-ffg.html
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