Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and bioactive compounds. Its alkyne and hydroxyl functional groups allow for versatile chemical modifications, including click chemistry reactions via copper-catalyzed azide-alkyne cycloaddition (CuAAC). Commonly employed in the development of drug conjugates, polymers, and functionalized biomolecules. Also finds use in the synthesis of specialty monomers for polymer chemistry due to its ability to introduce reactive handles into macromolecular structures.