Exhibit 99.2
Y-mAbs Employee FAQ
| · | We have entered into an agreement under which SERB Pharmaceuticals has agreed to acquire Y-mAbs Therapeutics in a transaction at an
equity value for Y-mAbs of $412 million. |
| · | Under the terms of the merger agreement, SERB is obligated to initiate a tender offer to acquire all outstanding shares of Y-mAbs
for $8.60 per share in cash. |
| · | By combining our expertise and resources with their specialty commercial capabilities, we can extend our shared commitment of improving
the lives of even more patients and families on a global scale. |
| 2. | Why are we announcing this transaction now? |
| · | This transaction is
a testament to the team’s hard work in building a strong foundation as a commercial
organization with a differentiated, FDA-approved product in DANYELZA® |
| · | By combining our expertise and resources with their specialty commercial capabilities, we can extend our shared commitment of improving
the lives of even more patients and families on a global scale. |
| · | The Board regularly reviews our business, including our strategy, the current state of the biopharmaceutical sector and the time and
resources required to execute on our strategic plans. |
| · | With the assistance of external advisors, the Board reviewed strategic alternatives to maximize value for Y-mAbs stockholders. |
| · | This process included discussions with numerous potential buyers for Y-mAbs or for the DANYELZA or Radiopharmaceuticals businesses
on a standalone basis. The Board also reviewed potential sources of capital to support accelerating the further development of our pipeline. |
| · | We are now moving forward with this agreement, which we believe reflects the most attractive option available to Y-mAbs, providing
significant, immediate and certain value to our stockholders. |
| · | SERB is a global specialty pharmaceutical company with a portfolio of critical medicines that treat complex and life-threatening conditions. |
| · | More information about SERB can be found on its website. |
| 4. | What does this mean for employees? |
| · | While we are announcing this transaction, it is only the first step. |
| · | We expect the transaction to close by the fourth quarter of 2025, subject to the satisfaction of the conditions in the merger agreement,
completion of the cash tender offer by SERB for our shares and certain other closing conditions. |
| · | Between now and then, we remain an independent, publicly traded company, and it is business as usual for all of us. |
| · | Please stay focused on your responsibilities – our patients are counting on you. |
| 5. | What does SERB have planned for Y-mAbs? Will there be any change to our strategy? |
| · | While we are announcing this transaction, it is only the first step and there are many decisions that still need to be made. We will
be working with the SERB team to determine how we will bring our companies together. |
| · | We know you have many questions, and updates will be provided at the appropriate time. |
| · | Importantly, until the transaction closes, which we expect by the fourth quarter of 2025, it is business as usual. |
| 6. | Will there be any changes to employee salaries, compensation or benefits as a result of this transaction? |
| · | Until the transaction closes, which we expect by the fourth quarter of 2025, it is business as usual. We are paying employees and
providing benefits like always. |
| · | We know you have many questions, and updates will be provided at the appropriate time. |
| 7. | Will there be changes to my day-to-day responsibilities? |
| · | Until the transaction closes, which we expect by the fourth quarter of 2025, it is business as usual and there will be no immediate
effect on our day-to-day responsibilities. |
| · | While we are announcing this transaction, it is only the first step and there are many decisions that still need to be made. We will
be working with the SERB team to determine how we will bring our companies together. |
| · | We know you have many questions, and updates will be provided at the appropriate time. |
| 8. | Where will we be headquartered? Will Y-mAbs offices stay open? What will happen to our Princeton office? |
| · | While we are announcing this transaction, it is only the first step and there are many decisions that still need to be made. |
| · | We will be working with the SERB team to determine how we will bring our companies together. |
| 9. | What happens to my company stock? |
| · | As a stockholder, you will have the opportunity to tender your shares into SERB’s tender offer and, upon completion of the tender
offer, receive $8.60 per share that you own. |
| · | You will receive more information regarding the tender offer once SERB commences the tender offer and documents relating to the tender
offer are filed with the SEC. |
| 10. | What is a tender offer? What are the next steps in this process? Should I tender my shares? How do I do that? |
| · | A “tender offer” is a public offer to buy stock directly from stockholders. |
| · | All Y-mAbs stockholders will be given an opportunity to “tender,” or sell, their stock for $8.60 per share within a specified
timeframe once the tender offer commences. |
| · | Along with Y-mAbs’ other stockholders, employee stockholders will receive information regarding the tender offer once SERB commences
the tender offer and documents relating to the tender offer are filed with the SEC. |
| 11. | What should I tell external stakeholders if they ask me about this announcement? |
| · | If
anyone asks, you can tell them we are focused on advancing our businesses and supporting patients and their families. |
| · | Any
questions from external stakeholders should be referred to Courtney Dugan, cdu@ymabs.com. |
| 12. | What do I do if I am approached by media, an analyst or another third party? |
| · | If you are contacted
by the press, investors or another third party, please forward any inquiries to Courtney
Dugan, cdu@ymabs.com, who will handle on the Company’s behalf. |
| 13. | Can I post about the pending transaction on social media? |
| · | We ask that you please refrain from posting or otherwise commenting on the pending transaction publicly, consistent with our
policies and social media guidelines. |
| 14. | Who can I contact if I have questions? |
| · | We will keep you informed through this process. |
| · | As always, if you have further questions, you can reach out to your supervisor. |
Forward-Looking Statements
This communication contains forward-looking statements that involve
risks and uncertainties relating to future events and the future performance of Y-mAbs and Serb,
including statements relating to the ability to complete and the timing of completion of the transactions contemplated by the Agreement
and Plan of Merger dated as of August 4, 2025 by and among Y-mAbs, Serb, and the other
parties thereto (the “Merger Agreement”), including the anticipated occurrence, manner and timing of the proposed tender offer,
the parties’ ability to satisfy the conditions to the consummation of the tender offer and the other conditions to the consummation
of the subsequent merger set forth in the Merger Agreement, the possibility of any termination of the Merger Agreement, and the prospective
benefits of the proposed transaction, and other statements that are not historical facts. The forward-looking statements contained in
this email are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results
to differ materially from the forward-looking statements. These statements may contain words such as “may,” “will,”
“would,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,”
“estimate,” “project,” “seek,” “should,” “strategy,” “future,”
“opportunity,” “potential” or other similar words and expressions indicating future results. Risks that may cause
these forward-looking statements to be inaccurate include, without limitation: uncertainties as to the timing of the tender offer; uncertainties
as to how many of Y-mAbs’s stockholders will tender their stock in the offer; the possibility that competing offers or acquisition
proposals will be made; the possibility that various closing conditions for the transaction may not be satisfied or waived, including
that a governmental entity may prohibit, delay, or refuse to grant approval for the consummation of the transaction (or only grant approval
subject to adverse conditions or limitations); the difficulty of predicting the timing or outcome of regulatory approvals or actions,
if any; the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement; the
possibility that the transaction does not close; risks related to the parties’ ability to realize the anticipated benefits of the
proposed transaction, including the possibility that the expected benefits from the proposed acquisition will not be realized or will
not be realized within the expected time period and that Y-mAbs and Serb will not be integrated
successfully or that such integration may be more difficult, time-consuming or costly than expected; the effects of the transaction on
relationships with employees, customers, suppliers, other business partners or governmental entities; negative effects of this announcement
or the consummation of the proposed transaction on the market price of Y-mAbs’s common stock and/or Y-mAbs’s operating results;
significant transaction costs; unknown or inestimable liabilities; the risk of litigation and/or regulatory actions related to the proposed
transaction; Serb’s ability to fund the proposed transaction; obtaining and maintaining
adequate coverage and reimbursement for products; the time-consuming and uncertain regulatory approval process; the costly and time-consuming
pharmaceutical product development process and the uncertainty of clinical success, including risks related to failure or delays in successfully
initiating or completing clinical trials and assessing patients; global economic, financial, and healthcare system disruptions and the
current and potential future negative impacts to the parties’ business operations and financial results; the sufficiency of the
parties’ cash flows and capital resources; the parties’ ability to achieve targeted or expected future financial performance
and results and the uncertainty of future tax, accounting and other provisions and estimates; and other risks and uncertainties affecting
Y-mAbs and Serb, including those described from time to time under the caption “Risk
Factors” and elsewhere in Y-mAbs’s filings and reports with the U.S. Securities and Exchange Commission (the “SEC”),
including Y-mAbs’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and Quarterly Report on Form 10-Q for
the quarterly period ended March 31, 2025, as well as the Tender Offer Statement on Schedule TO and related tender offer documents to
be filed by Serb and its acquisition subsidiary, and the Solicitation/Recommendation Statement
on Schedule 14D-9 to be filed by Y-mAbs. Any forward-looking statements are made based on the current beliefs and judgments of Y-mAbs’s
and Serb’s management, and the reader is cautioned not to rely on any forward-looking
statements made by Y-mAbs or Serb. Except as required by law, Y-mAbs and Serb
do not undertake any obligation to update (publicly or otherwise) any forward-looking statement, including without limitation any financial
projection or guidance, whether as a result of new information, future events, or otherwise.
Important Information about the Tender Offer and Where to Find It
The tender offer (the “Offer”) for the Y-mAbs outstanding
common stock referred to in this email has not yet commenced. The description contained in this email is neither an offer to purchase
nor a solicitation of an offer to sell any securities, nor is it a substitute for the tender offer materials that Serb
will file with the SEC. The solicitation and offer to purchase Y-mAbs’s common stock will only be made pursuant to an offer to purchase
and related tender offer materials. At the time the Offer is commenced, Serb will file
a tender offer statement on Schedule TO and thereafter Y-mAbs will file a solicitation/recommendation statement on Schedule 14D-9 with
the SEC with respect to the Offer.
THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED
LETTER OF TRANSMITTAL AND CERTAIN OTHER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9, AS THEY MAY
BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, WILL CONTAIN IMPORTANT INFORMATION. ANY HOLDERS OF Y-mAbs SHARES ARE URGED TO READ THESE
DOCUMENTS CAREFULLY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT HOLDERS SHOULD CONSIDER BEFORE MAKING
ANY DECISION REGARDING TENDERING THEIR SHARES.
The offer to purchase, the letter of transmittal, the solicitation/recommendation
statement and related offer documents will be made available for free at the SEC’s website at www.sec.gov. Copies of those
offer documents and all other documents filed by Serb and Y-mAbs will be made available
at no charge by directing a request to the information agent for the Offer, which will be named in the Schedule TO to be filed with the
SEC. Copies of the solicitation/recommendation statement on Schedule 14D-9 to be filed with the SEC by Y-mAbs will be available free
of charge on Y-mAbs’s investor relations website at https://ir.ymabs.com/ or by contacting Y-mAbs’s investor relations contact
at cdu@ymabs.com.
In addition, Y-mAbs files annual, quarterly and current reports and
other information with the SEC, which are also made available free of charge on the Company’s investor relations website at https://ir.ymabs.com/
and at the SEC’s website at www.sec.gov.