His campaign has been rocked by the latest allegation that he had a 13-year extramarital affair with Atlanta business woman Ginger White, but Cain said he has received positive supporter from his backers.
Cain told his staff that he was reassessing his campaign on Tuesday, but when asked about it during a one-day bus tour through Ohio, Cain said, "We are reassessing as we speak. Reassessment means re-evaluation."
A campaign manager told ABC News that there was "no way he's dropping out."
Cain has denied the affair, calling story "fabricated and unsubstantiated." The allegations of the affair come just five weeks before the first votes are cast in the state-by-state march to the nomination.
Earlier sexual harassment accusations took a toll on both his standing in polls and, supporters say, his fundraising.
In an interview with "Good Morning America," White said she didn't think Cain was fit to be president.
"I honestly do not think that he is, in my opinion, would make a good president as far as I'm concerned," White said.
Describing her relationship with Cain as "a very casual affair," she said she was "disappointed" by Cain's characterization of her.
"I'm not here to say anything negative about Mr. Cain," White said. "This has been a very difficult situation for myself and for my family. And it's nothing that I'm proud of."
The Associated Press contributed to this report.