This compound is primarily utilized in the development of pharmaceutical agents, particularly in the synthesis of anticancer drugs. Its structure is key in creating prodrugs that release active alkylating agents, which target and damage DNA in cancer cells, leading to cell death. It is often incorporated into formulations designed for targeted therapy, enhancing the efficacy and reducing the side effects of chemotherapy. Additionally, its derivatives are explored for their potential in treating various types of tumors, making it a valuable component in oncological research and drug development.