Freeform has canceled its Marvel’s series Cloak & Dagger after two seasons. The network opted out of a third season and the options on the cast have expired this week. The series was well-received but ratings dipped in season two by over 40%.

The series stars, Olivia Holt (Tandy Bowen/Dagger) and Aubrey Joseph (Tyrone Johnson/Cloak) are set to guest-star in episodes of the upcoming season of Hulu’s Runaways.

Freeform released a statement regarding the series:

We are so proud of Marvel’s Cloak & Dagger and the trailblazing stories this series told.  We are also grateful to our incredible talent Oliva Holt and Aubrey Joseph for bringing these beloved characters to life, and showrunner Joe Pokaski for his vision. We’d like to thank our partners at Marvel Television for a wonderful two seasons and are we are hopeful that we can find another project together.

This cancellation also comes on the heels of Kevin Feige‘s placement as Marvel’s Chief Creative Officer, over comics, television and film, and the news that Marvel Television’s head, Jeph Loeb was leaving the company as a result, after almost ten years in the position.

Read: Marvel/Hulu Series ‘Helstrom’ Reveals Cast As Production Kicks Off

This may not ultimately be the reason why Cloak & Dagger was canceled, but it’s also not surprising, as this show, along with Agents of S.H.I.E.L.D. and Runaways represent the old guard, and it is expected that the entire Marvel TV slate will be overhauled to match the content and quality of the hit films.

Source: Deadline