Jennifer Lawrence to Play Theranos Founder Elizabeth Holmes in Biopic
Jennifer Lawrence has a new role in the works.
Theranos is a medical-laboratory-services startup based in Palo Alto, California that is currently under criminal investigation by federal prosecutors and the Securities and Exchange Commission.
The company has been at the center of drama ever since last year when an October 2015 report in the Wall Street Journal raised concerns about the accuracy of Edison, the company’s blood testing device that was said to use only a few drops of blood obtained from a fingerstick as opposed to traditional methods of venipuncture, in which vials of blood are drawn.
Then the government’s Centers for Medicare and Medicaid Services conducted an independent review and inspection of the company, ultimately finding that the company had inaccurate testing results and deficiencies in sample handling. They even considered banning Holmes from the medical industry for two years for her failure to fix “major problems” in the company’s clinical labs.
In 2014, Theranos’ founders had raised over $400 million from investors, valuing the company at $9 billion. Holmes, who has a 50% stake in the company, was estimated to be worth $4.5 billion by Forbes last year, topping the magazine’s list of “America’s Richest Self-Made Women.”
As of June 1, 2016, the 32-year-old’s net worth estimate was revised to be zero. By devaluing Theranos’s worth as a company, they concluded her stake at the company (around $800 million) was “essentially worth nothing” because she owns common shares, and ultimately would be the last in line to pay out if the company were to be liquidated.
Holmes dropped out of Stanford University at the age of 19; she was a sophomore majoring in chemical engineering and left in order to start Theranos. She founded Theranos in 2003, with the goal of streamlining and revolutionizing blood tests by creating a hand-held device.
McKay directed last year’s The Big Short (the first film of his to not star Will Ferrell) and won the Oscar for Best Adapted Screenplay.
According to reports, the project is still in very early stages; aside from J-Law, no other actors have been attached nor is there an expected release date.