The boys at Penny have confirmed that there will be no more episodes of Penny Arcade Adventures.

The series has performed rather poorly and was met with a lukewarm reception from the gaming press. Developer Hothead also has their hands full with Deathspank and so the decision to cancel the series was pretty much a no-brainer.

The announcement came in an interview with Joystiq. Mike Krahlulik (also know as Gabe) said: "There won't be an Episode 3. We're actually not making a third episode of the game."

"Hothead has DeathSpank and they have a chance to do something really cool with it. And they'd need an opportunity to make it incredible," added Jerry Holkins (also known as Tycho).

If you managed to get yourself all invested in the story then fear not because they do plan to give the series a proper ending. "We're going to finish that story but it's going to be on our website," Holkins said.

The rest of the story will be revealed in a comic online.

By Ewan Aiton