PF-03550096 is primarily used in research settings as a selective inhibitor of the enzyme fatty acid amide hydrolase (FAAH). By inhibiting FAAH, it increases the levels of endogenous cannabinoids, such as anandamide, which play a role in modulating pain, inflammation, and mood. This makes it a valuable tool for studying the endocannabinoid system and its potential therapeutic applications in conditions like chronic pain, anxiety, and neurodegenerative disorders. Additionally, it aids in understanding the biochemical pathways and physiological effects of cannabinoid signaling in the body.