The premium channel that it will not move ahead with a second season of Shalom Auslander's series, according Digital Spy.
"Happyish" starred Coogan as a middle-aged advertising executive increasingly befuddled by the fast pace of his industry and his home life.
The series had a troubled path to the small screen, having originally been conceived by Auslander as a starring vehicle for Philip Seymour Hoffman back in 2011.
When Hoffman died after shooting the "Happyish" pilot, Coogan stepped into the show's leading role.
"Happyish" finally made its US television debut on Showtime in April, nearly four years after it was initially pitched.