Used primarily in organic synthesis as a selenium-containing reagent, it facilitates the introduction of selenium functionality into molecules, which is valuable in the development of pharmaceuticals and bioactive compounds. Its structure allows for participation in ring-forming reactions and acts as a building block in heterocyclic chemistry. Due to the unique redox properties of selenium, derivatives like this are explored in medicinal chemistry for their potential antioxidant and enzyme-modulating activities. It may also serve as a ligand or intermediate in catalytic reactions involving transition metals.