This compound is primarily utilized in the synthesis of complex organic molecules, particularly in the pharmaceutical industry. It serves as a key intermediate in the production of various therapeutic agents, including antiviral and anticancer drugs. Its structure, featuring both hydroxyl and carboxylate groups, makes it a versatile building block for constructing chiral molecules, which are essential in drug development. Additionally, it is employed in the preparation of peptidomimetics, which mimic peptides and are used to design drugs with enhanced stability and bioavailability. Its role in asymmetric synthesis also contributes to the development of enantiomerically pure compounds, which are critical for ensuring the efficacy and safety of medications.