In this chapter, evolution of light beams in a cubic-quintic-septic-nonical medium is investigated. As the model equation, an extended form of the well-known nonlinear Schrödinger (NLS) equation is taken into account. By the use of a special ansatz, exact analytical solutions describing bright/dark and kink solitons are constructed. The existence of the wave solutions is discussed in a parameter regime. Moreover, the stability properties of the obtained solutions are investigated, and by employing Stuart and DiPrima’s stability analysis method, an analytical expression for the modulational stability is found.