Widely used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of immunomodulatory drugs. It is particularly valuable in the development of targeted protein degraders, such as cereblon E3 ligase modulators, which are used in cancer therapies. Its structure enables selective binding to cereblon, facilitating the degradation of disease-causing proteins. Due to this mechanism, it plays a critical role in the design of treatments for hematological malignancies, including multiple myeloma and myelodysplastic syndromes. It is also explored for anti-inflammatory and anti-angiogenic applications in preclinical studies.