Kate McKinnon to star as Elizabeth Holmes in Hulu’s Theranos miniseries: report

Kate McKinnon (left) is expected to play disgraced Theranos founder Elizabeth Holmes (right) in an upcoming miniseries, according to reports. (Reuters/Getty)

Actress Kate McKinnon is slated to portray the notorious Theranos founder Elizabeth Holmes in a Hulu miniseries called “The Dropout,” according to multiple reports.

Though Hulu hasn’t officially announced the project, both Deadline and Variety reported the news Wednesday, writing the “Saturday Night Live” star would also serve as executive producer of the limited series.

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The series, which could range between six and 10 episodes, according to Deadline, would be based on ABC Radio’s podcast called “The Dropout.”

Holmes, once the darling of Silicon Valley, was formerly the CEO of Theranos, a now-dissolved company that alleged to have discovered a blood-testing method. Theranos said it could perform dozens of tests with just a few droplets of blood — a claim that led to millions of dollars in investments and eventually a $9 billion valuation.

But an investigation by The Wall Street Journal’s John Carreyrou eventually led to the company’s demise. The paper discovered Theranos’ technology was not all it was cracked up to be, allegedly using routine blood-testing equipment for the vast majority of tests rather than the revolutionary technology Theranos touted.

Following the report, Walgreens ended its blood-testing partnership with the company as Theranos came under investigation by the FBI, the Department of Justice and the Securities and Exchange Commission.

Later, Holmes was charged with “11 criminal felony counts, including wire fraud and conspiracy,” Vanity Fair reported in February. She could face up to 20 years in prison if convicted.

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The limited series would come after HBO’s Theranos-inspired documentary called "The Inventor: Out for Blood in Silicon Valley," and also follows the news actress Jennifer Lawrence is slated to play Holmes in a soon-to-be-released movie about the disgraced entrepreneur called “Bad Blood.”

Hulu declined to comment on or confirm the new series when contacted by Fox News on Thursday.

Fox News' Kathleen Joyce and The Associated Press contributed to this report.