The film was produced by Roger Corman, who directed the Conan O'Brien cameo, and stars Robert Carradine, Katie Savoy, and Rib Hillis.

Sometime later, Dr. Rico Symes (Robert Carradine), CEO of Symodyne (the company that originally created Sharktopus), releases a barracuda-pterodactyl hybrid creature known as Pteracuda, intended for military use, above the desert against the advice of head of security Hamilton (Rib Hillis).

The Pteracuda, controlled with a computer chip in its brain, is secretly hacked by a scientist at Symodyne named Vladimir Futon to terrorize populated areas.

Meanwhile, Lorena is working at a water park/aquarium owned by her uncle, greedy business mogul Munoz, and is currently training the now fully grown Sharktopus.

After two customers threaten to give Munoz a one star review, he shows them the Sharktopus only for the couple to almost get killed by the creature.

The Pteracuda crashes a plane and kills everybody onboard, including the couple that Munoz showed the Sharktopus to earlier.

Having been paid a huge amount of money by Symes to keep quiet about Sharktopus, Munoz closes the park for good.

Lorena realizes that the Pteracuda must eat constantly in order to survive, and she and Hamilton create a plan to kill both creatures.

Hamilton shoots the Pteracuda with a harpoon that breaches its computer chip causing it to overload and explode, ostensibly killing both creatures.

As Lorena and Hamilton leave, the Sharktopus grabs onto their boat, and lunges at the camera as the film abruptly ends.