Sangamo probes for fresh breaches of its digital security system after top exec’s email was hacked -- exposing secrets
Just how competitive is it in the gene editing arena?
Sangamo $SGMO posted an intriguing note with the SEC on Tuesday saying that a “senior executive’s” email account had been breached for an 11-week stretch. In the tech break-in, “proprietary, confidential and other sensitive information of the Company and other entities was accessed and may have been compromised as a result of the incident.”
The filing note that the company learned of the incident on March 28 as the stock price was sliding. Sangamo’s shares plunged from $22.55 on March 26 to $16.95 on April 6 before starting to climb back up.
The biotech, which has emerged from a long quiet stretch on the zinc finger front to complete a series of new deals, including a big expansion of their gene-editing alliance with Pfizer, is adding the incident to its list of risk factors. But a spokesperson for the company declined to identify whose email got hacked.
As of now, that’s as far as the breach goes, but the biotech adds that after alerting federal law enforcement — a responsibility that generally lies first with the FBI — and bringing in a security team, it’s still looking for digital foot prints of possible intruders.
The Company is continuing to analyze the effects of the incident, along with appropriate remediation of the Company’s information technology systems, and that analysis and the related remediation efforts could ultimately reveal that other Company information technology systems were compromised and/or that additional information was revealed or compromised.