This compound is primarily utilized in biochemical research, particularly in studies involving lipid metabolism and cellular signaling pathways. Its unique structure, combining a chromene moiety with a palmitoyl group, makes it valuable for investigating the role of lipid modifications in protein function and membrane interactions. It is often employed as a tool to study the effects of palmitoylation, a post-translational modification that influences protein localization, stability, and activity. Additionally, its chromene component allows for fluorescence-based detection and tracking in cellular assays, aiding in the visualization of lipid-protein interactions in live cells. This compound is also explored in the development of therapeutic agents targeting lipid-related disorders, such as metabolic syndromes and certain cancers.