Used primarily in organic synthesis as a versatile intermediate, this compound is often employed in the preparation of complex molecules, particularly in pharmaceutical research. Its structure, featuring both an acetoxy group and a tert-butyl carboxylate, makes it valuable for constructing azetidine-containing compounds, which are of interest due to their biological activity. It is also utilized in the development of prodrugs and as a protective group in peptide synthesis, enabling selective reactions in multi-step processes. Additionally, its stability and reactivity make it suitable for use in medicinal chemistry for the design of new drug candidates.