This compound is primarily utilized in the synthesis of pharmaceuticals, particularly as an intermediate in the production of complex organic molecules. Its structure, featuring both a tert-butoxycarbonyl (Boc) protecting group and a carboxylic acid moiety, makes it valuable in peptide synthesis and medicinal chemistry. The Boc group can be selectively removed under mild acidic conditions, allowing for further functionalization of the molecule. Additionally, the presence of the phenoxy group enhances its potential for creating biologically active compounds, such as enzyme inhibitors or receptor modulators, due to its ability to interact with aromatic binding sites in proteins. This chemical is often employed in research and development settings to explore new drug candidates or optimize existing therapeutic agents.