This chemical is widely used in biochemical research as a fluorogenic substrate for proteases, particularly those involved in blood coagulation and fibrinolysis. It helps in studying enzyme kinetics and activity of enzymes like thrombin and factor Xa. Researchers utilize it to monitor protease activity in real-time, as the cleavage of the substrate releases a fluorescent signal, enabling precise measurements. It is also employed in high-throughput screening assays to identify potential inhibitors or activators of proteases, contributing to drug discovery and development. Additionally, it aids in understanding the molecular mechanisms of coagulation pathways and related disorders.