Jennifer Lawrence Joins 'Big Short' Director Adam McKay's Theranos Film

Surely you've heard the story by now.

Theranos is a startup company that created a medical testing device that examines blood samples to help diagnose and detect dozens of conditions. The company struck a deal with Walgreens Boots Alliance Inc (NASDAQ: WBA) in 2013 to bring its testing devices to Walgreens' stores, but the relationship turned sour. Federal inspectors uncovered irregularities with the blood testing system and Walgreens' own executives haven't personally been granted access to Theranos' labs.

Related Link: How Theranos' Founder Lost $4.5 Billion In Net Worth

According to Forbes, Theranos' was valued as much as $9 billion in 2014 and 32-year-old CEO Elizabeth Holmes' wealth is based entirely on her 50 percent stake in the company. Venture capitalists and experts Forbes interviewed are now placing Theranos' valuation at $800 million -- $724 million in cash that it has raised and the remainder represents its intellectual property.

Adam McKay, who made his name as a Saturday Night Live writer and partnerships with Will Ferrell, will be directing a Theranos film project. The Hollywood Reporter said Thursday that Jennifer Lawrence has signed on to join the project.

Lawrence is the second-youngest recipient of the Best Actress Oscar. McKay, known mostly for his comedy films, won this year's Oscar for Best Adapted Screenplay for "The Big Short."