The team of scientists at Aquatica, led by Dr. McAlester, were originally conducting research on the brains of genetically engineered rats. However, they were not able to produce enough tissue to continue their research. In desperation, Dr. McAlester turns to genetically engineering Mako sharks, believing that their larger brains could provide the tissue they need.
Unfortunately, the increased brain capacity of the sharks leads to unforeseen consequences. The sharks become highly intelligent, capable of escaping from their confinement and attacking the scientists. The team is trapped in the facility with the sharks and must find a way to survive.
The corporate executive, Russell Franklin, arrives at Aquatica to assess the progress of the research and is initially skeptical of the team's methods. However, when the sharks begin to attack, Franklin works with the team to try and find a way to escape.
They attempt to shut down the facility's power to prevent the sharks from escaping, but the plan goes awry when a fire breaks out. The team is forced to traverse the facility while dodging the highly intelligent sharks and the many obstacles that arise.
In the end, only a few of the team members survive, including Dr. McAlester and Franklin. They are rescued from the facility by a passing helicopter, but not before Franklin sacrifices himself to distract one of the sharks, allowing the others to escape.