Used as a key intermediate in the synthesis of iodinated derivatives for pharmaceuticals and imaging agents. Its structure allows selective functionalization in organic reactions, particularly in the preparation of complex molecules requiring regio- and stereocontrol. Commonly employed in research settings for developing bioactive compounds, including antiviral and anticancer agents. Also utilized in the construction of heterocyclic systems due to its reactive dioxinone core and iodine handle for cross-coupling reactions.