Setti Warren: "I Did Not See a Clear Path to Victory" [Video]

NEWTON — Under rainy skies and aside a small crowd of local supporters, the mood and setting was decidedly different from . 

Warren, whose campaign has been overshadowed by financial difficulties and larger-than-life Democratic opponents, announced this morning he is dropping out of the race for U.S. Senate.

"I got into this race for one reason and one reason only, to beat Scott Brown," Warren said in a press conference Thursday morning. "And I’m getting out for one reason and one reason only, because I no longer believe that I have a clear path to victory in this race." 

At a podium in front of his Newton home on Beaumont Avenue, Warren stood beside his wife Tassy as he thanked his family and staff for their support. 

The news of Warren dropping out leaked yesterday after that Warren's campaign had made a phone call to some supporters announcing he was calling it quits. 

Warren touted his team's efforts Thursday morning, noting that they had moved through 81 cities and towns in Massachusetts and held more than 110 campaign stops. 

"Making the difference has been central to my life, and it should be at the heart of why anyone would run for office and ask for your votes," Warren said, adding, "Making a difference is why six other highly qualified Democrats are out on the campaign trail week in and week out, making the case against Scott Brown and for a different vision of our country."

As of the end of the second quarter (June 30), Warren had raised just over $124,000 -- a fraction of the amount . Warren's campaign would not release the final numbers, but noted the amounts will be out shortly with the end of the third quarter approaching.

Just a week ago, Warren's campaign sent out an email to supporters asking for last-minute contributions, saying that they were hoping to raise $25,000 by Friday's fundraising deadline. 

When asked why now was the time to drop out of the race Warren said he faced "overwhelming financial and political odds" noting that the Democrats have a "great field of candidates" that he feels confident will produce a successful challenger for Scott Brown. However, Warren would not officially endorse any of the six Democrats in the race and said that he is going to take a couple of weeks to sit back, reflect and consider those on the ballot. 

With Warren dropping out, the candidate field now includes Newton resident , Brookline resident and City Year founder , Somerville resident and former lieutenant governor candidate , North Shore attorney , State Rep.  from Wayland and Harvard Law School professor .

As for the race's newest candidate, Elizabeth Warren, the Newton mayor agreed that she posed a significant challenge in the primary. An attorney with experience in Washington as special advisor to the Secretary of the Treasury for the Consumer Financial Protection Bureau, Elizabeth Warren has emerged as the favorite among both state and national Democrats. 

"She's changed the dynamics of the race," Setti Warren said. "It was clear to me that because of that I was not going to be able to come on and win."

Nevertheless, the Newton mayor agreed that there were many factors that played into his decision to drop out including those related to the needs of his family and home city.

As for a second bid as mayor, Warren said he has yet to make a decision as to whether he will run for re-election. 

"Today, I head into Newton City Hall as I have throughout this campaign, delighted to be my hometown's mayor, anxious to continue the great work we've started here and looking forward to fighting for democratic values and principles in whatever way I can," Warren said.