Used primarily in the field of psychiatry, it serves as a long-acting injectable formulation for the treatment of schizophrenia and bipolar disorder. This compound is designed to provide sustained release of the active metabolite, ensuring stable therapeutic levels over an extended period. It is particularly beneficial for patients who have difficulty adhering to daily oral medication regimens. The palmitate ester form enhances solubility in lipid-based carriers, facilitating its administration via intramuscular injection. This approach helps in maintaining consistent drug levels, reducing the frequency of dosing, and improving overall patient compliance and outcomes.