Used primarily in organic synthesis, this compound serves as a key intermediate for the production of various pharmaceuticals and agrochemicals. Its reactive hydrazide and thiol groups make it valuable for constructing complex molecules, particularly in the development of drugs targeting specific enzymes or receptors. Additionally, it is employed in the preparation of polymers and materials with specialized properties, such as enhanced adhesion or flexibility. In research, it is utilized for modifying biomolecules, aiding in the study of protein interactions and cellular processes. Its versatility also extends to the field of diagnostics, where it can be used to develop sensitive probes for detecting specific analytes.