Comparison of adalimumab and secukinumab with respect to short-term efficacy and recurrence in moderate-tosevere psoriasis patients

Purpose: To compare the short-term efficacy and recurrence of moderate-to-severe psoriasis patients through adalimumab and secukinumab.Methods: A total of 180 patients treated in 970 Hospital of the PLA Joint Logistics Support Force from April 2019 to November 2021 were enrolled in this study. They were assigned to groups A (100 cases treated with secukinumab) and B (80 patients treated with adalimumab). Before and after treatment, the IL-23, TNF-α and 25 (OH) D levels, psoriasis area and severity index (PASI), physician global assessment (PGA), dermatology life quality index (DLQI), compliance with treatment, treatment effectiveness, incidence of adverse reactions, and short-term recurrence were assessed.Results: After treatment, the TNF-α and IL-23 levels decreased in group A, while the 25 (OH) D level increased (p < 0.05). In comparison to group B, PASI, PGA and DLQI scores in group A were lower (p < 0.05). Compliance in group A was lower (p = 0.002), while total treatment effectiveness was higher (p < 0.001). The incidence of adverse reactions (p =0.004) and frequency of short-term recurrence (p = 0.005) in group A were lower.Conclusion: The short-term efficacy of secukinumab in moderate-to-severe psoriasis patients is higherthan that of adalimumab, while recurrence is lower. Thus, secukinumab shows greater benefits than adalimumab for the treatment psoriasis

Perturbative corrections to B→DB \to D form factors in QCD

We compute perturbative QCD corrections to $B \to D$ form factors at leading power in $\Lambda/m_b$, at large hadronic recoil, from the light-cone sum rules (LCSR) with $B$-meson distribution amplitudes in HQET. QCD factorization for the vacuum-to-$B$-meson correlation function with an interpolating current for the $D$-meson is demonstrated explicitly at one loop with the power counting scheme $m_c \sim {\cal O} \left (\sqrt{\Lambda \, m_b} \right )$. The jet functions encoding information of the hard-collinear dynamics in the above-mentioned correlation function are complicated by the appearance of an additional hard-collinear scale $m_c$, compared to the counterparts entering the factorization formula of the vacuum-to-$B$-meson correction function for the construction of $B \to \pi$ from factors. Inspecting the next-to-leading-logarithmic sum rules for the form factors of $B \to D \ell \nu$ indicates that perturbative corrections to the hard-collinear functions are more profound than that for the hard functions, with the default theory inputs, in the physical kinematic region. We further compute the subleading power correction induced by the three-particle quark-gluon distribution amplitudes of the $B$-meson at tree level employing the background gluon field approach. The LCSR predictions for the semileptonic $B \to D \ell \nu$ form factors are then extrapolated to the entire kinematic region with the $z$-series parametrization. Phenomenological implications of our determinations for the form factors $f_{BD}^{+, 0}(q^2)$ are explored by investigating the (differential) branching fractions and the $R(D)$ ratio of $B \to D \ell \nu$ and by determining the CKM matrix element $|V_{cb}|$ from the total decay rate of $B \to D \mu \nu_{\mu}$.Comment: 49 pages, 8 figures, version accepted for publication in JHE

QCD calculations of B→π,KB \to \pi, K form factors with higher-twist corrections

We update QCD calculations of $B \to \pi, K$ form factors at large hadronic recoil by including the subleading-power corrections from the higher-twist $B$-meson light-cone distribution amplitudes (LCDAs) up to the twist-six accuracy and the strange-quark mass effects at leading-power in $\Lambda/m_b$ from the twist-two $B$-meson LCDA $\phi_B^{+}(\omega, \mu)$. The higher-twist corrections from both the two-particle and three-particle $B$-meson LCDAs are computed from the light-cone QCD sum rules (LCSR) at tree level. In particular, we construct the local duality model for the twist-five and -six $B$-meson LCDAs, in agreement with the corresponding asymptotic behaviours at small quark and gluon momenta, employing the QCD sum rules in heavy quark effective theory at leading order in $\alpha_s$. The strange quark mass effects in semileptonic $B \to K$ form factors yield the leading-power contribution in the heavy quark expansion, consistent with the power-counting analysis in soft-collinear effective theory, and they are also computed from the LCSR approach due to the appearance of the rapidity singularities. We further explore the phenomenological aspects of the semileptonic $B \to \pi \ell \nu$ decays and the rare exclusive processes $B \to K \nu \nu$, including the determination of the CKM matrix element $|V_{ub}|$, the normalized differential $q^2$ distributions and precision observables defined by the ratios of branching fractions for the above-mentioned two channels in the same intervals of $q^2$.Comment: 36 pages, 9 figure

Investor Overconfidence and the Forward Premium Puzzle

We offer an explanation for the forward premium puzzle in foreign exchange markets based upon investor overconfidence. In the model, overconfident individuals overreact to their information about future inflation, which causes greater overshooting in the forward rate than in the spot rate. Thus, when agents observe a signal of higher future inflation, the consequent rise in the forward premium predicts a subsequent downward correction of the spot rate. The model can explain the magnitude of the forward premium bias and several other stylized facts related to the joint behavior of forward and spot exchange rates. Our approach is also consistent with the availability of profitable carry trade strategies.