Used as a chiral intermediate in the synthesis of pharmaceuticals, particularly in the development of radiolabeled compounds for medical imaging. The iodine substituent allows for easy incorporation of radioactive iodine isotopes, making it valuable in the preparation of tracers for positron emission tomography (PET) or single-photon emission computed tomography (SPECT). Its chiral alcohol functionality enables selective transformations in asymmetric synthesis, useful in creating bioactive molecules with high enantiomeric purity. Also employed in the preparation of ligands for catalysis and in the study of stereochemical effects in drug-receptor interactions.