Sen. Eddie Melton (D-Gary) dropped out of the governor’s race Monday.

That leaves two Democrats looking to unseat Republican Gov. Eric Holcomb.

The surprising announcement comes shortly after the last campaign fundraising period ended – and it appears it didn’t go well for Melton. In a statement, the Gary Democrat said, “Unfortunately politics today require way too much of a candidate’s time being spent on the phone chasing dollars.”

Melton says he’ll instead run for another four years in the state Senate, to which he was first elected in 2016.

His departure from the race leaves health care executive Woody Myers and tech CEO Josh Owens as the only Democrats vying to beat incumbent Gov. Eric Holcomb.

The deadline for the candidates to collect 4,500 signatures – 500 from each Congressional district – to make the gubernatorial primary ballot is Feb. 7.

Contact Brandon at bsmith@ipbs.org or follow him on Twitter at @brandonjsmith5.