This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceuticals. Its structure, featuring an amino acid ester and an iodophenyl group, makes it valuable for developing targeted drugs, particularly those acting on the central nervous system. It is often employed in the preparation of radiolabeled compounds for imaging studies, aiding in the diagnosis and research of neurological disorders. Additionally, its chiral nature allows for the creation of enantiomerically pure drugs, enhancing therapeutic efficacy and reducing side effects.