This compound is primarily utilized in biochemical and pharmaceutical research due to its role as a key intermediate in the synthesis of various biologically active molecules. It is often employed in the development of enzyme inhibitors and peptide-based drugs, particularly those targeting specific metabolic pathways or enzymatic processes. Its structure allows it to interact with active sites of enzymes, making it valuable for studying enzyme kinetics and mechanisms. Additionally, it finds application in the preparation of modified amino acids and peptides, which are essential in drug design and protein engineering. Its functional groups also make it suitable for conjugation with other molecules, enhancing its utility in bioconjugation and drug delivery systems.