Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and bioactive molecules. Its thiol and ester functionalities allow for selective reactions, such as conjugation or protection strategies in multi-step syntheses. Commonly employed in the development of enzyme inhibitors or prodrugs due to its ability to mimic metabolic intermediates and cross cell membranes effectively. Also utilized in polymer chemistry as a chain-transfer agent to control molecular weight in thiol-ene reactions.