Even though Prey shares the same name as its predecessor there doesn't seem to be much of a connection between them. The original Prey was a simple enough story about a Native American trying to save his beloved from the clutches of evil aliens, while the new Prey on the other hand has portable black holes, Slenderman demon/aliens that are able to transform into chairs and cups of all things, and superpowers you apparently inject straight into your eye.
And before you ask, no, not a single one of those features was exaggerated. So if you're interested in seeing some absolutely bizarre aliens and a whole bunch of ridiculous weaponry such as the surprisingly useful gloo-cannon, here's the recently posted trailer:
As for the release date, you can expect to see Prey arrive on May 5th for all platforms. If you would like to learn a little bit more about the gameplay you're in luck as Bethesda has just posted a new article covering some of the weapons and powers you'll get to toy around with. And if you're looking for some more general information you should probably head on over to Steam as the news section contains all of the tidbits released so far. Enjoy!