Ceralifimod (ONO-4641) is primarily investigated for its potential therapeutic applications in autoimmune diseases. It functions as a sphingosine 1-phosphate receptor modulator, which helps in regulating the immune system by preventing the migration of lymphocytes from lymph nodes into the bloodstream. This mechanism is particularly beneficial in conditions like multiple sclerosis, where it can reduce the frequency of relapses by limiting the autoimmune attack on the central nervous system. Additionally, its immunomodulatory effects are being explored for other autoimmune disorders, offering a promising avenue for reducing inflammation and disease progression. Clinical trials are ongoing to better understand its efficacy and safety profile in these contexts.