Krystal Biotech, Inc. 10-K Cybersecurity GRC - 2024-02-26

Page last updated on April 11, 2024

Krystal Biotech, Inc. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-02-26 07:49:58 EST.

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10-K filed on 2024-02-26

Krystal Biotech, Inc. filed an 10-K at 2024-02-26 07:49:58 EST
Accession Number: 0001711279-24-000005

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity. Cybersecurity represents a critical component of our overall approach to risk management. Our cybersecurity policies, standards, and practices are integrated into our enterprise risk management approach, and cybersecurity risks are among the core enterprise risks that are subject to oversight by our Board of Directors (the Board ). We generally approach cybersecurity threats through a cross-functional, multilayered approach, with specific goals of: (i) identifying, preventing and mitigating cybersecurity threats to the Company; (ii) preserving the confidentiality, security and availability of the information that we collect and store; (iii) protecting the Company s intellectual property; (iv) maintaining the confidence of our customers, suppliers and other third parties; and (v) providing appropriate public disclosure of cybersecurity risks and incidents when required. Cyber Security Risk Management and Strategy Our cybersecurity program focuses on the following areas: Vigilance: Our cybersecurity threat operations function 24/7 with the specific goal of identifying, preventing and mitigating cybersecurity threats and responding to cybersecurity incidents in accordance with our established incident response and recovery plans. Systems Safeguards: We deploy systems safeguards that are designed to protect the Company s information systems from cybersecurity threats, including firewalls, intrusion prevention and detection systems, anti-malware functionality and access controls, which are evaluated and improved through ongoing vulnerability assessments and cybersecurity threat intelligence. Third-Party Risk Management: We maintain a comprehensive, risk-based approach to identifying and overseeing cybersecurity risks presented by third parties, including vendors, service providers and other external users of the Company s systems, as well as the systems of third parties that could adversely impact our business in the event of a cybersecurity incident affecting those third-party systems. Training: We provide periodic mandatory training for personnel regarding cybersecurity threats, which reinforces the Company s information security policies, standards and practices. Incident Response and Recovery Planning: We have established and maintain incident response and recovery plans that address the Company s response to a cybersecurity incident and the recovery from a cybersecurity incident, and such plans are tested and evaluated on an regular basis. Communication, Coordination and Disclosure: We utilize a cross-functional approach to address the risk from cybersecurity threats, involving management personnel from the Company s technology, operations, legal, financial, and other key business functions, as well as the members of the Board in an ongoing dialogue regarding cybersecurity threats and incidents, while also implementing controls and procedures so that decisions regarding the disclosure and reporting of such incidents can be made by management in a timely manner. A part of our strategy for managing risks from cybersecurity threats is assessment and testing of the effectiveness of our cybersecurity measures. We engage third parties to perform assessments on our cybersecurity measures, and we adjust our cybersecurity measures as necessary based on the information provided by the assessments. Governance The Board oversees the management of risks from cybersecurity threats. The Board receives regular presentations and reports on cybersecurity, which address a wide range of topics and also receives prompt and timely information regarding any cybersecurity incident that is or may become material, as well as ongoing updates regarding such incident until it has been addressed. At least once each year, the Board discusses the Company s approach to cybersecurity risk management with the Company s Vice President of Information Technology, who is the member of management that is principally responsible for overseeing cybersecurity at the Company, in partnership with other business leaders across the Company, including our Chief Executive Officer, Chief Accounting Officer, General Counsel, and Human Resources leader. Our Vice President of Information Technology has served in various roles in information technology and information security for over 28 years, including serving as Chief Information Security Officer of several public companies. He holds undergraduate and graduate degrees in electrical engineering and computer science and has attained numerous professional certifications in Information Security throughout his career. Cybersecurity threats, including as a result of any previous cybersecurity incidents, have not materially affected or are reasonably likely to affect the Company, including its business strategy, results of operations, or financial condition. 65

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