Thea, a PhD student researching the cause and potential purpose of dreams, immerses her daily and nightly life in her studies. Her obsessive tendencies aside, it's her frequent discussions with her charismatic professor, Graham, that prove to be the biggest sticking point for her boyfriend, Dave. But when Thea and Dave find themselves in financial dire straits, her hunt for a job leads to a lucrative opportunity for them both to be subjects in Graham's enigmatic side project, a study of first and second sleep.
In addition to a strict adherence of sleeping in two shifts, the study also requires total avoidance of any exposure to electricity from sunset to sunrise, much to Dave's chagrin. But the other study participants prove to be vivid dreamers, much to Thea's excitement. She immerses herself even deeper into the world of dreaming, including a promise to unlock the meaning of the other participants dreams, while Dave remains on the doubtful sidelines. When his failure to subscribe to the strict guidelines leads to Dave being kicked out of the study, and Thea's life, it brings her even closer to Graham.
The sleep study group soon discovers they have each dreamt of events in their own lives, just days before they occurred. As a strange kind of E.S.P. develops amongst the study participants, Graham and Thea secretly team up in an attempt to understand what might be happening to the group. They soon end up sharing far more than just each others findings. As the sexual chemistry between Thea and Graham grows, the line between Thea's dream world and the real world begins to blur.
The study group's dreams become more predictive with each week and Thea's prove to be the most detailed of them all. But when Graham's real intents for the study, and for Thea, finally emerge, Thea's dreams prove to be far more powerful than she ever thought possible.