Used as an intermediate in the synthesis of bioactive compounds and pharmaceuticals, particularly in the development of prodrugs and drug delivery systems. Its hydroxyl and carboxylic acid functional groups allow for easy modification and conjugation, making it valuable in creating ester or amide linkages. Commonly employed in research settings to improve solubility or stability of active molecules. Also explored in the design of biodegradable polymers and functionalized lipids for biomedical applications.