Used as a key intermediate in the synthesis of steroidal and non-steroidal anti-inflammatory agents. It serves in the development of selective androgen receptor modulators (SARMs) due to its structural similarity to natural hormone frameworks. Also employed in radiolabeling studies for receptor binding assays, where the iodine atom allows for easy tagging with radioactive isotopes like I-125. Its ketone functionality enables further derivatization through reductive amination or Grignard reactions, making it valuable in medicinal chemistry for building complex bioactive molecules.