RE:silver line of this arbitration: 5m write-off from I cannot see any justification for the award from the letter. Whether Cipher can reclaim their money invested in Trulance from Bausch is yet to be seen. I would expect a much smaller amount, if at all. In my view, Cipher has lost the trust of many shareholders. I expect a sell-off on Monday, how deep it goes, you have to wait and see.