Used primarily in lipid-based drug delivery systems, this compound enhances the stability and bioavailability of therapeutic agents. It is a key component in liposomal formulations, particularly for targeted cancer therapies, where it helps in improving the delivery of drugs to specific cells or tissues. Additionally, it is employed in research to study membrane dynamics and lipid interactions due to its structural similarity to natural phospholipids. Its role in modifying membrane properties also makes it useful in the development of advanced materials for biomedical applications.