Prepaid expenses and other current assets are composed of the following (in thousands):


	September 30,		December 31,
	2026		2025
Materials and supplies	$	100,076	$	47,387
Advance payments to suppliers		20,787		14,251
Inventories, net		35,281		10,310
Prepaid expenses		33,511		12,192
Strategic investments		71,598		—
Accrued interest receivable		14,126		18,494
Prepaid research and development arrangements		14,175		7,154
Other current assets		28,365		17,963
Total prepaid expenses and other current assets	$	317,919	$	127,751

Other noncurrent assets are composed of the following (in thousands):


	September 30,		December 31,
	2026		2025
Strategic investments	$	178,135	$	91,000
Prepaid research and development arrangements, net of current portion		117,354		60,843
Operating lease right-of-use assets		76,899		22,724
Investment tax credit receivable, net of current portion		19,778		—
Materials and supplies, net of current portion(1)		10,431		—
Other noncurrent assets		21,149		13,548
Total other noncurrent assets	$	423,746	$	188,115

(1)

Materials and supplies, net of current portion consists of spare parts that will not be used within twelve months.

Accrued expenses and other current liabilities are composed of the following (in thousands):


	September 30,		December 31,
	2026		2025
Accrued salaries and other payroll liabilities	$	93,809	$	44,209
Accrued vendor purchase commitments		21,542		—
Acquisition purchase consideration liabilities		3,142		5,600
Current portion of operating lease liabilities		14,034		8,850
Current portion of finance lease liabilities		2,305		—
Accrued professional services and transaction costs		10,934		18,583
Accrued equipment and facilities liabilities		14,516		11,785
Accrued expenses—other		14,986		9,544
Total accrued expenses and other current liabilities	$	175,268	$	98,571

Other noncurrent liabilities are composed of the following (in thousands):


	September 30,		December 31,
	2026		2025
Deferred tax liabilities	$	67,522	$	85,676
Acquisition purchase consideration liabilities, net of current portion		842		1,684
Defined benefit pension obligation		7,269		6,301
Operating lease liabilities, net of current portion		46,218		21,171
Finance lease liabilities, net of current portion		26,087		—
Other noncurrent liabilities		4,082		1,511
Total other noncurrent liabilities	$	152,020	$	116,343