Used primarily in organic synthesis as an intermediate for pharmaceuticals and bioactive compounds. Its hydrazide functional group allows it to participate in condensation reactions, forming hydrazones and heterocyclic structures that are common in antimicrobial and antitumor agents. The dithiolane ring enhances stability and can act as a protecting group for carbonyl compounds, while also contributing to redox-active properties useful in medicinal chemistry. It is also explored in the development of enzyme inhibitors and sensors due to its ability to coordinate with metal ions.