Cruz told CNN Tuesday: "We are suspending our campaign."
The announcement first came from Cruz' campaign manager, Politico reports. Although the Texas senator has been adamant about going all the way to a contested convention, a series of losses in the Northeast states seem to have forced the republican candidate to withdraw his bid for the White House.
"From the beginning, I've said that I would continue on as long as their was a viable path to victory," Cruz said in a video of his concession speech obtained by the Washington Post. "Tonight, it appears that path has been foreclosed."
Explaining that his team "gave it everything" they had, but the "voters chose another path," Cruz – accompanied by his wife Heidi – said that although he was suspending the campaign, he was optimistic about the future of America.
"But hear me now," he continued. "I am not suspending our fight for liberty. I am suspending our fight to defend the constitution; to defend the Judeo-Christian values that built America."
In his announcement, Cruz did not say if he would support Donald Trump – who, according to CNN, is now the presumptive Republican nominee – if the real estate mogul officially wins the nomination.
WATCH: Voters React to Ted Cruz Dropping Out of the Presidential Race
The Democratic Senatorial Campaign Committee issued a statement on Cruz Tuesday saying: "Ted Cruz was never going to save the Republican Party from Donald Trump, and his status as potential savior was a sign of the GOP's desperate times."
"There's no going back for vulnerable incumbents and candidates who've pledged to support Trump. Now they have the herculean task of explaining their own out-of-touch records while running alongside their party's new standard bearer: a divisive and dangerous personality who has been identified as an albatross for Republican Senate candidates by leaders of their own party."