Used primarily in biochemical research, this compound serves as a precursor in the synthesis of radiolabeled compounds for positron emission tomography (PET) imaging. It is particularly valuable in studying amino acid transport and metabolism in cells, aiding in the diagnosis and monitoring of various diseases, including cancer. Additionally, it is employed in the development of peptide-based drugs, where its iodine atom can be replaced with other functional groups to enhance biological activity or stability. Its role in enzyme inhibition studies also helps in understanding metabolic pathways and designing therapeutic agents.