If you have been watching the stocks for the Xtend Medical Corp group recently, you will know they have gone through the roof. That might be a frequently used saying in the area of stocks and bonds, but in this case it is warranted. They have increased by over two thousand per cent, and some say they could go even higher.

While only time will tell whether that will happen or not, the reason why their shares have improved so much is worth looking at. Apparently they are looking to merge with another company. This is happening because they want to promote further technology in the medical field and they cannot do so without the help of another party.

What makes Xtend Medical Corp different from many of their counterparts is the fact that they think globally - even with regard to third world countries which can sometimes be left behind in this respect. The current product they are looking to have promoted is called the BioHarp. This works in an imaging capacity, so it is able to take complex pictures of the body in order to identify problems - most notably cancer cells.

The BioHarp is extremely versatile and very useful since it fits into your hand. This isn't a huge machine that people need to go and use - it can instead be taken to the patient. Consequently the potential is huge.

Of course the fact that the item has the ability to detect cancer by using nanotechnology holds a huge amount of potential. Could we imagine a world in which a device such as this gives more and more people the chance to fight cancer due to its earlier detection? Indeed we could - and because of this we can envisage those stocks going up further as time goes by.

News of the merger with this other company - BioHarp Korea - should give plenty of scope for higher stock prices in future days and weeks as well. We are not yet in a territory where the penny stock has become anything but. But even though it still qualifies as a penny stock it has certainly done well to increase in percentage by such a huge amount.

Could we see Xtend Medical Corp go even higher? It is more likely to go in that favourable direction than it is to go the other way, but of course caution should always be exercised when buying any type of stock.