Google told attendees previously that it would hold a virtual version of the event, which had been scheduled for May, but canceled those plans entirely on Friday.

Google is canceling I/O, its annual developer event, over health and safety concerns.

The company said in a statement on Friday that it will not be holding the event, which had been scheduled for mid-May and typically draws thousands of attendees. Google had previously told participants that it would hold a virtual version of the event, but canceled those plans entirely after California Gov. Gavin Newsom instituted a statewide shelter-in-place order.

Shares of Alphabet, Google's parent company, closed 3.91% lower on Friday to $1,068.21.