Ann: Investor Presentation, page-8

I was interested in reading some comments made in an article (June2013) concerning research out of Harvard Stem Cell Institute. HSCI are in a similar space as PYC in targeting intracellular 'transcription factors'.
The comments below(in bold) give an insight into why we see pharma sit on the sidelines:

.....Studying the therapeutic potential of a transcription factor is unusual in the field of cancer research. Transcription factors are typically avoided because of the difficulty of developing drugs that safely interfere with genetic targets. Most cancer researchers focus their attention on kinases.
The HSCI researchers' inquiry into the basic biology of the SALL4 gene, however, revealed another way to interfere with its activity in cancer cells. The gene's protein product is responsible for turning off a tumor-suppressor gene, causing the cell to divide uncontrollably. Using this knowledge, the researchers demonstrated that targeting the SALL4 protein with druglike molecules could halt tumor growth. "The pharmaceutical companies decided that if it is not a kinase and it is not a cell surface molecule, then it is 'undruggable,' " Tenen said. "To me, if you say anything is 'undoable,' you are limiting yourself as a biomedical scientist.".............
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Seems PYC is in good company in this space where few are game to tread.
Here is the article.
SoT