Used as an intermediate in the synthesis of pharmaceutical peptides, particularly in the preparation of protease inhibitors and other bioactive molecules. Its N-carbobenzyloxy (Cbz) protecting group allows selective amine protection during peptide coupling, making it valuable in solid-phase and solution-phase peptide synthesis. Commonly employed in the development of chiral drugs where the phenylalanine moiety contributes to structural specificity. Also utilized in the production of enzyme inhibitors and in medicinal chemistry research for structure-activity relationship studies.