3. Consolidated Financial Statement Detail

Equity Securities

As of December 31, 2020 and December 31, 2019, equity securities consisted of an investment in Rezolute’s common stock of $1.7 million and $0.7 million, respectively (Note 4). For the years ended December 31, 2020 and December 31, 2019, the Company recognized gains of $1.0 million and $0.3 million, respectively, due to the change in fair value of its investment in Rezolute’s common stock in the other income (expense), net line item of the consolidated statements of operations and comprehensive loss.

Accrued and Other Liabilities

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

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