Shiseido ArbitrationThe key element of the Arbitrator's decision is:
RepliCel has filed an arbitration claim seeking Shiseido's full compliance with the agreement or return of the license and all collaboration data and innovations related to its cell therapy treatment for male and female pattern hair loss.
If Replicel wins this Arbitration the license will be returned and all collaborative data which I assume includes their current Trial results.
Also according to this announcement the Arbitrator will consider: "and/or payment of damages including the equivalent of all reasonably expected future milestone and royalty payments."
There is a lot riding on this Arbitration especially if Damages are awarded.