Used extensively in biochemical research as a fluorogenic substrate for proteases, particularly those that recognize and cleave arginine-containing peptides. It is valuable in enzyme activity assays, helping to study the kinetics and specificity of proteolytic enzymes. Additionally, it aids in the development of diagnostic tools for diseases involving protease dysregulation, such as cancer and inflammatory conditions. Its fluorescence upon cleavage makes it a reliable marker for high-throughput screening in drug discovery.