Used extensively in biochemical research as a labeled compound for studying protein interactions and enzyme mechanisms. It serves as a precursor in the synthesis of radiolabeled compounds for medical imaging, particularly in thyroid-related diagnostics. Also employed in peptide synthesis to introduce iodine atoms, enhancing the stability and functionality of peptides. Its iodine atoms make it useful in X-ray crystallography for determining protein structures. Additionally, it plays a role in the development of pharmaceuticals targeting thyroid disorders and metabolic pathways.