Used primarily as an intermediate in organic synthesis, particularly in the development of pharmaceuticals and bioactive compounds. Its structure allows for functionalization in peptide mimetics and heterocyclic systems, making it valuable in drug discovery. Commonly employed in the preparation of proteolysis-targeting chimeras (PROTACs) due to its ability to link E3 ligase ligands with target protein binders. Also utilized in the synthesis of fluorescent probes and labeled biomolecules for biochemical assays. Stable under standard conditions and compatible with solid-phase synthesis techniques, it supports high-throughput compound library generation.