The project, set in New York, focused on two women called Margo (Tea Leoni) and Eden (Hope Davis) working together in the fashion world.
The cable network has now decided to pass on the comedy, written by Six Feet Under's Kate Robin, according to Deadline.
Bad Teacher director Jake Kasdan was at the helm of the pilot, which featured a guest appearance from Sigourney Weaver.
Since working on Spring/Fall, Robin and Kasdan have reunited for a female-driven drama, which was sold to Fox last month.
Other projects currently in development at HBO include Aaron Sorkin's More As This Story Develops and an adaptation of 2010 film The Kids Are All Right.
An untitled Western drama from Ron Howard and Akiva Goldsman and the Ewan McGregor-starring The Corrections are also in the works.
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