BMS-564929 is primarily used in research and development within the pharmaceutical industry. It is studied for its potential as a selective androgen receptor modulator (SARM). This compound is of interest for its ability to mimic the effects of androgens, such as testosterone, in specific tissues, which could lead to applications in treating conditions like muscle wasting, osteoporosis, and hypogonadism. Its selective action may offer therapeutic benefits with reduced side effects compared to traditional androgen therapies. Additionally, it is explored for its potential in improving physical performance and recovery in certain medical contexts. Research continues to evaluate its efficacy, safety, and potential clinical applications.