Used in organic synthesis as a building block for complex natural products and bioactive molecules. Its conjugated diyne and diene structure makes it valuable in cross-coupling reactions and cycloadditions. The hydroxyl groups allow for further functionalization, enabling use in polymer chemistry and pharmaceutical research. It serves as a precursor in the synthesis of enediynes, compounds known for antitumor and antibiotic properties. Also applied in materials science for developing conjugated systems in organic electronics.