WAY-204688 is primarily utilized in research settings to study its effects on metabolic processes, particularly in the context of diabetes and obesity. It functions as a selective agonist for the GPR119 receptor, which plays a role in glucose-dependent insulin secretion. This makes it a valuable compound for investigating potential therapeutic strategies for managing blood sugar levels and improving metabolic health. Researchers also explore its potential in enhancing incretin hormone release, which could contribute to better glycemic control. Its application is largely confined to preclinical studies, where it aids in understanding the mechanisms of GPR119 activation and its implications for metabolic disorders.