3. Consolidated Financial Statement Detail

Equity Securities

As of December 31, 2021 and December 31, 2020, equity securities consisted of an investment in Rezolute’s common stock of $0.8 million and $1.7 million, respectively (Note 4). For the years ended December 31, 2021 and December 31, 2020, the Company recognized a loss of $0.9 million and a gain of $1.0 million, respectively, due to the change in fair value of its investment in Rezolute’s common stock in the other (expense) income, net line item of the consolidated statements of operations and comprehensive income.

Accrued and Other Liabilities

Accrued and other liabilities consisted of the following (in thousands):

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