Vice President Joseph Biden announced on Wednesday that the window has closed for mounting a successful presidential run in 2016.

“I believe we are out of time, the time necessary to mount a winning campaign for the nomination,” Biden said. But “while I will not be a candidate, I will not be silent. I intend to speak out clearly and forcefully, to influence as much as I can where we stand as a party and where we need to go as a nation.”

President Barack Obama attended the announcement in the Rose Garden. Before coming out, the two could be seen talking face to face in the Oval Office, according to a WH pool report.

During his remarks, Biden laid out what would be his campaign theme had he declared a run. This was a clear indication that he was leaning toward a run, making it abundantly clear that he would not be endorsing Hillary Clinton in the near future.

But Hillary’s performance during last week’s TV debate and the notion that Bernie Sanders is solidifying his base as a progressive voice to influence the primary, gave Biden the understanding that he had no path to victory.

“Joe Biden, a good friend, has made the decision that he feels is best for himself, his family and the country,” Sanders said in a statement. “I thank the vice president for a lifetime of public service and for all that he has done for our nation. I look forward to continuing to work with him to address the major crises we face.”

Martin O’Malley, who’s seeking to gain traction in the Democratic primary, said in a statement that Biden’s experience “would have been a welcome addition to the Democratic race.”

“I will always admire his strength in the face of adversity and his passion for bettering our country. I respect Vice President Biden’s decision today and wish the Vice President and his family well,” he added.