Kryptonite Value, a new activist short firm, published a Twitter thread on Ambrx Biopharma (NYSE: AMAM — $374 million), an early-stage biologics company. Kryptonite Value said the company “appears to be a classic pump and dump” and highlighted management’s checkered past. For example, the company’s CEO, Daniel O'Connor, previously served as CEO of Oncosec Medical (ONCS), which subsequentially fell ~99%, and was a founding director of Seelos Therapeutics (SEEL), which also subsequentially fell ~99%, and before that served as CEO of Advaxis (ADXS), which also subsequently fell ~99%. Ambrx Biopharma stock is currently up roughly 2,000% from its December 2022 lows and Kryptonite Value predicted the company will “be a near worthless penny stock soon enough.”