Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and specialty chemicals. It serves as a building block in the development of drugs targeting metabolic and neurological disorders due to the presence of both thiol and carboxylic acid functional groups, which enable diverse chemical modifications. Also employed in chelation therapy research because of its ability to bind metal ions effectively. Its reactivity makes it valuable in creating custom molecules for medicinal chemistry and biochemical applications, including potential uses in antioxidants and metal-detecting biosensors.