Milestone Pharmaceuticals Inc. 10-K Cybersecurity GRC - 2024-03-21

Page last updated on April 11, 2024

Milestone Pharmaceuticals Inc. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-03-21 07:01:04 EDT.

Filings

10-K filed on 2024-03-21

Milestone Pharmaceuticals Inc. filed an 10-K at 2024-03-21 07:01:04 EDT
Accession Number: 0001558370-24-003666

Note: filing items unformatted. Drop us a note with the above URL to help us prioritize formatting it!

Item 1C. Cybersecurity.

ITEM 1C. CYBERSECURITY. Risk management and strategy We have implemented and maintain various information security processes designed to identify, assess and manage material risks from cybersecurity threats to our critical computer networks, communications systems, hardware and software, and our critical data, including intellectual property and confidential information that is proprietary, strategic or competitive in nature ( Information Systems and Data ). Our Vice President of Information Technology ( VP of IT ) with assistance from our third-party managed services team, legal, quality, finance and human resources, identifies, assesses and manages the Company s cybersecurity threats and risks. The Company identifies and assesses risks from cybersecurity threats by monitoring and evaluating our threat environment using various methods including, for example using manual and automated tools, analyzing reports of threat actors, conducting scans of the threat environment, evaluating threats reported to us and coordinating with law enforcement concerning threats. Depending on the environment, we implement and maintain various technical, physical, and organizational measures, processes, standards and policies designed to manage and mitigate material risks from cybersecurity threats to our 93 Table of Contents Information Systems and Data, including, for example: an incident response plan incident detection and response disaster recovery and business continuity plans implementation of security standards network security controls access controls system monitoring and employee training. Our assessment and management of material risks from cybersecurity threats are integrated into the Company s overall risk management processes. Cybersecurity risk is addressed as a component of the Company s enterprise risk management program and identified by the Company s senior management team. Also, IT consultants work with management to follow the National Institute of Standards and Technology framework for cybersecurity to mitigate cybersecurity threats that are more likely to lead to a material impact on our business. We use third-party service providers to assist us from time to time to identify, assess, and manage material risks from cybersecurity threats, including for example, professional services firms including outside legal counsel, cybersecurity consultants, threat intelligence service providers, managed cybersecurity service providers and forensic investigators. We use third-party service providers to perform a variety of functions throughout our business, such as application providers and hosting companies. We have a vendor management program to manage cybersecurity risks associated with our use of these providers. The program includes security questionnaires, reviews of vendor s written security program and audits. Depending on the nature of the services provided, the sensitivity of the Information Systems and Data at issue, and the identity of the provider, our vendor management process may involve different levels of assessment designed to help identify cybersecurity risks associated with a provider and impose contractual obligations related to cybersecurity on the provider. For a description of the risks from cybersecurity threats that may materially affect the Company and how they may do so, see our risk factors under Part I. Item 1A. Risk Factors in this Annual Report on Form 10-K, including Our internal computer systems, or those of our collaborators or other contractors or consultants, may fail or suffer security breaches, which could result in a significant disruption of our product development programs and can lead to adverse consequences, including but not limited to regulatory investigations or actions litigation fines and penalties reputational harm loss of revenue or profits loss of customers or sales disruption of our business operations. Governance Our board of directors and audit committee addresses the Company s cybersecurity risk management as part of its general oversight function. The board of directors audit committee is responsible for overseeing the Company s cybersecurity risk management processes, including oversight of mitigation of risks from cybersecurity threats. Our cybersecurity risk assessment and management processes are implemented and maintained by certain Company management, including our Chief Financial Officer and our VP of IT who has over 40 years of experience in information technology and cybersecurity and manages the Company s information technology infrastructure. The VP of IT is responsible for hiring appropriate personnel, helping to integrate cybersecurity risk considerations into the Company s overall risk management strategy, and communicating key priorities to relevant personnel. The VP of IT is also responsible for approving budgets, helping prepare for cybersecurity incidents, approving cybersecurity processes, and reviewing security assessments and other security-related reports. Our cybersecurity incident response plan is designed to escalate certain cybersecurity incidents to members of management depending on the circumstances. The VP of IT works with the Company s incident response team to help the Company mitigate and remediate cybersecurity incidents of which they are notified. In addition, the Company s incident response plan includes reporting to the audit committee of the board of directors for certain cybersecurity incidents. The audit committee receives periodic reports concerning the Company s significant cybersecurity threats and risk and the processes the Company has implemented to address them. The audit committee also receives various reports, summaries or presentations related to cybersecurity threats, risk and mitigation. 94 Table of Contents

Company Information