Used in the synthesis of complex organic molecules, particularly in pharmaceutical research. It serves as a key intermediate in the development of active pharmaceutical ingredients (APIs). The compound is valuable for introducing the oxetane ring and Boc-protected amino group into target molecules, which are essential for modifying drug properties such as stability, solubility, and bioavailability. It is also employed in peptide chemistry for constructing peptide analogs and in medicinal chemistry for exploring new therapeutic agents. Its versatility makes it a crucial building block in drug discovery and development processes.