Item 1B. Unresolved Staff Comments
Item 1B. Unresolved Staff Comments.
Not applicable.
Item 1C. Cybersecurity.
Cyber Risk Management and Strategy
The Company relies on electronic systems and information technologies to conduct its operations. We have adopted and maintain a cybersecurity risk management program , in accordance with our risk profile and business, that is informed by industry standards. The risk management program and the security policies that have been established as part of it, are reviewed annually as part of our overall risk management procedures.
We leverage the support of third-party information technology and security providers , including to perform penetration testing, threat intelligence analysis and remediation, when necessary. We have previously conducted a cybersecurity risk assessment that was intended to take into account the evolving cyber threat landscape and industry best practices, and we have endeavored to adapt our cyber risk strategy to mitigate emerging cybersecurity risks. We implement a multi-layered approach to cybersecurity that includes, for example, employee security awareness training, various security tools and technologies, and incident response planning and remediation.
Although risks from cybersecurity threats have to date not materially affected , and we do not believe they are reasonably likely to materially affect, us, our business strategy, results of operations or financial condition, we do, from time to time, experience threats and security incidents relating to our, and our third party vendors’, information systems. For more information, please see the section entitled “ Risk Factors ” as well as Item 9A in this Annual Report on Form 10-K.
Governance Related to Cybersecurity Risks
Our Executive Director of Information Technology (IT) reports directly to our Chief Financial Officer (CFO) and is responsible for the strategic leadership and direction of our cybersecurity program, with support from our Associate Director of Information Security and Associate Director of IT. With over 20 years of experience in IT and cybersecurity risk management, our Executive Director of IT works alongside individuals across other Company management functions to establish and implement our cybersecurity risk management strategy. Our Executive Director of IT is informed of and monitors cybersecurity incidents through communications with system users as well as monitoring our intrusion detection systems and firewalls.
Our audit committee, which reports directly to the board of directors , is responsible for overseeing our cybersecurity risk management program pursuant to the audit committee’s charter. The audit committee receives periodic updates on cybersecurity risks, mitigation strategies, and, if necessary, incident response activities from our Executive Director of IT or CFO. The audit committee may update the full board of directors on matters relating to cybersecurity risk management as needed.
Item 2. Pr operties.
We have offices in Boston, Massachusetts, and Redwood City, California. Our principal executive offices are located at 131 Dartmouth Street, 3rd Floor, Boston, Massachusetts. On January 31, 2024, our Boston, Massachusetts lease at 200 Berkeley Street was terminated by the landlord due to closing of the office space. On January 19, 2024, we entered into a membership agreement with Industrious Bos 131 Dartmouth Street LLC for office space at 131 Dartmouth Street, Boston, Massachusetts (the Dartmouth Street Agreement). The Dartmouth Street Agreement commenced on February 1, 2024 and was set to originally expire on January 31, 2025. On March 12, 2024 and on November 25, 2024, we amended the Dartmouth Street Agreement to include additional office space and extend the term of the lease. As amended on November 25, 2024, the extended lease commenced on February 1, 2025 and will expire on January 31, 2026.
We also lease office and laboratory space located at 1000 Bridge Parkway, Redwood City, California. The lease commenced on March 31, 2020 and expires on February 28, 2030. In addition, we lease office space at 1200 Bridge Parkway, Redwood City, California. This lease commenced on June 17, 2022 and will expire on June 30, 2025.
We believe that our office and laboratory space is sufficient to meet our current needs and that suitable additional space will be available as and when needed.
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