Time Electric failed to live up to his tall reputation as he finished well out of the places in the Athlumney (Pro/Am) INH Flat Race at Navan.
Time Electric was later examined by the vet after the race and was found to be lame behind and distressed.
Tom Mullins' charge was installed as favourite for the Champion Bumper at the Cheltenham Festival after making a successful racecourse bow at Leopardstown in December.
Although Mullins eventually decided not to make the trip to Cheltenham and aim at Punchestown instead, those plans could now be in question after a lacklustre show here.
Sent off the 10-11 favourite, Time Electric was prominent early on as Limestone Cowboy opened up a sizeable lead in setting a strong pace.
However, when the action turned up a notch in the straight, Time Electric was soon toiling and quickly faded out of the frame.
That left Limestone Cowboy and Picture This (10-1) to battle it out, with the latter eventually prevailing by a short head.
Winning trainer Michael Cullen said: "He will probably go for the Champion Bumper at Punchestown.
"He got badly hampered the first day he ran but he's a proper horse and he's for sale.
"He will probably be better on better ground and he'll make a lovely chase in time."
Hairy Molly won the Cheltenham Champion Bumper two years ago and he opened his account over fences at the second time of asking in the Trim Beginners Chase.
Joe Crowley's charge can be counted a fortunate winner though, as likely victor Classic Vic crashed out at the last when clear.
That left Hairy Molly, the 6-4 favourite, in front but he had to knuckle down to hold the challenge of Offaly by half a length under Barry Geraghty.
"He definitely wants better ground," said Crowley's assistant Damian Byrne.
"He'll come back here for a Grade Three chase at the end of the month and then the Imperial Call Chase at Cork and maybe the Paddy Power Gold Cup later on at Punchestown."