Julian Castro is no longer seeking the Democratic 2020 presidential nomination.

"With only a month until the Iowa caucuses and given the circumstances of this campaign season, I've determined that it simply isn't our time," Castro said in a video released Thursday. "So today it’s with a heavy heart and with profound gratitude, that I will suspend my campaign for president."

It’s with profound gratitude to all of our supporters that I suspend my campaign for president today.



I’m so proud of everything we’ve accomplished together. I’m going to keep fighting for an America where everyone counts—I hope you’ll join me in that fight. pic.twitter.com/jXQLJa3AdC — Julián Castro (@JulianCastro) January 2, 2020

Castro's announcement that he will drop out of the crowded field competing for the right to challenge President Trump comes after he threatened to suspend his White House bid if he didn't qualify for the November debate, failed to qualify for the December round, and laid off campaign employees in New Hampshire and South Carolina.

If he had won the primary and the general elections, he would've been the first Latino president.

Despite being one of the first contenders to declare their candidacy, the Obama administration-era housing and urban development secretary and former mayor of San Antonio, 45, failed to gain momentum in the polls and fundraising.

Yet, his long-shot status had one advantage: It provided him the opportunity to help push the conversation to the Left. He was one of the first to call for Trump's impeachment and led in proposing a comprehensive immigration plan.

After raising his profile by confronting fellow Texan Beto O'Rourke over O'Rourke's stance against decriminalizing border crossings at the opening debates in Miami, Florida, Castro was criticized for taking a veiled swipe at Joe Biden's age during the September round in Houston. The exchange, in which he asked the former vice president and Democratic front-runner whether he was "forgetting already what you said just two minutes ago," resulted in Congressional Hispanic Caucus member Texas Rep. Vicente Gonzalez revoking his endorsement of Castro in favor of Biden.

"I wouldn’t do it differently," Castro said. "That was not a personal attack."

Castro, whose invitation to speak at the 2012 Democratic National Convention drew comparisons to former President Barack Obama, also received scrutiny after his younger twin brother, Texas Rep. Joaquin Castro, tweeted out the names of people who had donated the maximum amount to Trump's reelection campaign.

“I believe that Americans have the right to freely associate. I also believe that that's public information," Julian Castro said.