He is the third candidate to drop out of the race this week, following Washington Governor Jay Inslee and former Colorado Governor John Hickenlooper.
Moulton dropped out earlier Friday, ending a campaign based on his moderate politics and military service. Elizabeth Warren (D-Mass.) and Sen.
"I am ending my campaign for president", Moulton said in remarks prepared for delivery in San Francisco on Friday at the Democratic National Committee's summer meeting.
His failure to meet poll numbers or garner enough donors kept him out of the first round of presidential debates in Miami and Detroit.
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The committee's thresholds to qualify for the next debates has increased. Only 10 candidates have qualified so far out of a field of 21. Moulton told the Times he had no immediate plans to endorse a candidate and said he believed only three candidates had the potential to become the Democratic nominee.
"I think it's evident that this is now a three-way race between Biden, Warren and Sanders, and really it's a debate about how far left the party should go", Moulton told the Times.
Democratic presidential hopeful and former Vice President Joe Biden speaks during the second round of the second Democratic primary debate of the 2020 presidential campaign season hosted by CNN at the Fox Theatre in Detroit, Mich., on July 31, 2019.
Asked why he made a decision to exit the race now, Moulton said he told his team that "if we got to a point where I just didn't see a path to the nomination, I wasn't going to drag it out".
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He is expected to run for re-election to his House seat, in the northern part of Boston, next year. 'I will once again be running for Congress in the 6th District of MA, my home, and I can't wait to get back at it'.
In 2018, Moulton, a combat veteran, won with about 65 percent of the vote over Republican challenger Joseph Schneider.
Moulton suggested that most of the other Democratic candidates were also laboring in vain at this point, with only a tiny few - Biden and Sens. He outspent Schneider $2.69 million to $263,000. He warned in the interview that if Democrats were to embrace an overly liberal platform, it could make it harder for the party to defeat President Trump.
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