ML417 is primarily used as a research compound in biochemical and pharmacological studies, particularly for its role as a selective inhibitor of protein arginine methyltransferase 5 (PRMT5). This makes it a valuable tool in studying epigenetic regulation and RNA processing, where PRMT5 plays a key role. It has been utilized in cancer research to investigate the effects of PRMT5 inhibition on tumor cell proliferation and survival, especially in hematological malignancies and other cancers dependent on PRMT5 activity. Additionally, ML417 helps in probing cellular signaling pathways and validating PRMT5 as a therapeutic target in preclinical models. Its application remains confined to laboratory research and is not used in clinical or industrial settings.