Monopar Therapeutics 10-K Cybersecurity GRC - 2024-03-28

Page last updated on April 11, 2024

Monopar Therapeutics reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-03-28 07:01:02 EDT.

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10-K filed on 2024-03-28

Monopar Therapeutics filed an 10-K at 2024-03-28 07:01:02 EDT
Accession Number: 0001437749-24-009687

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity Like many companies, we face significant and persistent cybersecurity risks. The small size of our organization and limited resources could exacerbate these risks. However, we are committed to maintaining governance and oversight of these risks and to implementing standard operating procedures ( SOPs ) and training to help us assess, identify, monitor and respond to these risks. Some examples of procedures implemented include an internal inventory of software and database exposures, a risk analysis of database vendors, review of vendor back-up, security and privacy measures. In addition, we are in the process of drafting an internal cybersecurity policy which will be the basis for SOPs and training. Our internal server includes a firewall and is scanned for malware several times a day and the data is backed up in the Cloud for ease of restoration as needed. Employees are trained to avoid phishing emails and our internal controls system is designed to mitigate the risk of payments of fraudulent invoices. While we have not, as of the date of this Form 10-K, experienced cybersecurity threats, including as a result of a prior incident, that resulted in, or that we believe is reasonably likely to result in, a material adverse impact to our business strategy, results of operations or financial condition, there can be no guarantee that we will not experience a material incident in the future. Such incidents, whether successful or not, could impair our access to critical information including confidential operational and patient records and have the potential to be costly to effect remedies. See “Risk Factors” for more information on our cybersecurity risks. We aim to incorporate industry best practices for companies of our size and financial strength throughout our cybersecurity program. Our cybersecurity strategy focuses on implementing effective and efficient controls, technologies, and training programs to assess, identify, and manage material cybersecurity risks. Our Board of Directors has ultimate oversight of cybersecurity risk and has established a Cybersecurity committee headed by our Chief Financial Officer. As a small organization with limited resources, we do not have a dedicated cybersecurity organization or employee personnel with specific cybersecurity expertise. Our Chief Financial Officer was chosen to head our Cybersecurity committee due to more generalized management experience with financial and operating systems and oversight of third-party providers. Our Management team and our Board of Directors regularly review our cybersecurity program which generally occurs at least annually, or more frequently as determined to be necessary or advisable.

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