"Shadowhunters" is ending after Season 3, Freeform announced, in a "purely economic" decision.

The supernatural drama, based on "The Mortal Instruments," will end with the second half of Season 3 in 2019 and "an epic two-episode special finale." So that's 12 new episodes plus a two-hour series finale event.

Freeform offered a statement on the cancellation:

"We are very proud of Shadowhunters, a series that broke new ground in the genre world and became a fan favorite. However, along with our partners at Constantin, we reached the very difficult decision not to renew the show for a fourth season. But, as big supporters and fans ourselves, Freeform insisted on and championed the filming of a special two-part finale that would give devoted fans a proper ending. The twelve episodes will air in spring of 2019. We want to thank our talented creators, producers, cast and crew along with our colleagues at Constantin for their hard work and dedication and to Cassie Clare for her incredible book series. We look forward to the final chapter of this breakthrough drama."

Karey Burke, Freeform EVP of Programming and Development, said the cancellation decision was "purely economic." Here are more details, from Deadline:

One key element, Burke explained, was the overall strategic shift at Freeform toward ordering shows in smaller batches. That decision triggered the end of the valuable Netflix output deal with the network's co-production partner, Germany-based Constantin Film. "We went back and forth with them but ultimately we just couldn't make the economics work," she said. "We were very happy creatively with it."

According to TVLine, "Shadowhunters" Season 3's first half averaged barely 400,000 total weekly viewers, "down sharply from Season 2 and ranking fifth ranking all current Freeform programs."

Still, it was a shock to the cast and producers, who reacted to the cancellation news.

Katherine McNamara (Clary) posted this note to fans:

Executive producer Matt Hastings also shared his shock:

More cast members reacted to the news:

"Shadowhunters: The Final Hunt" 12-episode season will air in Spring 2019.

Want more stuff like this? Like us on Facebook.