Company: HCWB
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0000950170-25-046724
Chunk: 238

Company: HCW Biologics Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 238
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 cybersecurity threats operates alongside our broader overall risk assessment process, covering all Company risks. As part of this process, appropriate HCWB personnel collaborate with subject matter specialists, as necessary, to gather insights for identifying and assessing material cybersecurity threat risks, their severity, and potential mitigation.  A key element of managing cybersecurity risk is the ongoing assessment and testing of our processes and practices through auditing, assessments, drills and other exercises focused on evaluating the sufficiency and effectiveness of our risk mitigation. We engage third parties to perform assessments of our cybersecurity measures, including information security maturity assessments and independent reviews of our information security control environment and operating effectiveness. Certain results of such assessments and reviews are reported by the key members of management, the and the board of directors, as appropriate.   Our policy is to conduct an annual cybersecurity assessment and make adjustments to our cybersecurity processes and practices as necessary based on the information provided by the third-party assessments and reviews.  For the year ended December 31, 2024, the findings of our annual cybersecurity assessment indicated that HCW Biologics has implemented several key security measures, including documented policies, data encryption, unique user identifiers, DNS filtering, and anti-malware tools.  We are in the proactive range for compliance with SEC cybersecurity guidelines, that is, we can address common attacks and current threats.  For the year ending December 31, 2025, the Company has launched projects to improve our controls, particularly for logging and monitoring and vulnerability assessments.  We currently leverage an AI-driven endpoint threat detection and prevention system. To strengthen our cybersecurity posture, we intend to implement a Security Information and Event Management (SIEM) solution that will aggregate and analyze logs from all critical infrastructure, including network, cloud, and endpoint security platforms. We also intend to expand our vulnerability management process to ensure regular assessments of public-facing systems and network devices. We are currently conducting a data migration project is expected to enhance the Company’s security posture and resilience against potential threats, in compliance with SEC guidelines. For the year ended December 31, 2024, we are not aware of any cybersecurity incidents that have materially affected or are reasonably likely to materially affect the Company, including our business strategy, results of operations, or financial condition.  We describe whether and how risks from identified cybersecurity threats, including as a result of any previous cybersecurity incidents, have materially affected or are reasonably likely to materially affect us, including our business strategy, results of operations, or financial condition, under the heading “Risks Related to Data Privacy and