James Spader brings an element of class to an otherwise derivative sci-fi.
It's not quite as B-movie as the title suggests, however, with a reasonably interesting story which rises above the expected B-movie excuses for bared flesh and gore..
Basically, as the plot progresses you realise are watching a remake of The Thing, as a bunch of ill equipped scientists discover a mysterious craft which unleashes something unexpected.. only then you realise it is in fact morphing into a remake of Predator, as you get the first person perspective of the alien stalking the scientists, only to discover you are watching a weird version of Outbreak, as a strange virus... oh, why bother, you get the idea.. At least it nicks ideas from the best.
Suffice to say, it does hang together plot wise, although action movie buffs will likely be disappointed - the ending is more Abyss than Alien...
Barely passable effects and decent acting hold things together enough for a watch, but its not particularly a credit to anyone involved.