Rep. Stephen Lynch (D-Mass.) has opted not to run in the special election to fill the late Sen. Edward Kennedy’s (D) seat.

In a statement, Lynch thanked his supporters for their encouragement but said he did not think he could put the resources together in time for an effective campaign.

“The challenge of putting together the resources and organization necessary to wage a competitive statewide campaign in less than 90 days is insurmountable,— Lynch said in a statement.

Lynch had $1.4 million in the bank as of June 30.

State Attorney General Martha Coakley (D) announced her Senate campaign two weeks ago. Lynch and Rep. Mike Capuano (D) had taken the necessary paperwork from the Massachusetts secretary of state, but both had yet to officially file or announce a campaign.

Lynch would have been considered the most conservative Democrat in the race and was expected to receive support from local labor unions. In the past two weeks, however, numerous unions announced they were supporting Coakley.

Rep. John Tiereny (D) announced Monday that he will not run in the special election, while City Year co-founder Alan Khazei (D) pulled paperwork Tuesday morning for a bid.

The Democratic primary will be held Dec. 8, and the special election is scheduled for Jan. 19.