Used in the synthesis of pharmaceutical intermediates, particularly in the development of radiolabeled compounds for medical imaging. Its iodine-containing structure makes it suitable for incorporation into tracers used in positron emission tomography (PET) and single-photon emission computed tomography (SPECT). Also employed in organic synthesis as a building block for bioactive molecules, including potential anti-inflammatory and central nervous system agents. The carboxylic acid group allows for easy derivatization, enabling conjugation to peptides, proteins, or other scaffolds in drug design.