Used in organic synthesis as a versatile intermediate for the preparation of various pharmaceutical compounds. It plays a key role in the development of azetidine-containing molecules, which are valuable in drug discovery due to their unique ring structure and biological activity. Additionally, it serves as a building block in the creation of complex chemical structures, particularly in the synthesis of antibiotics, anti-inflammatory agents, and other therapeutic drugs. Its acetyl and acetoxy groups make it a useful precursor for further chemical modifications in medicinal chemistry research.