Background. It has previously been shown that serum levels of pregnancy‐associated plasma protein A (PAPP‐A) are depressed in patients with early pregnancy bleeding and a live gestation. We examined whether human placental lactogen (hPL) levels show a similar pattern.Method. Prospective study in the 8th‐14th gestational week comparing serum levels in 69 women with early pregnancy bleeding with those in 93 control pregnancies.Results. Serum level of hPL were significantly depressed in women with early pregnancy bleeding (p<0.0001).Conclusions. The findings suggest a primary affection of the placenta in early pregnancy ble