This chemical is primarily used in the synthesis of complex organic molecules, particularly in the field of medicinal chemistry. It serves as a key intermediate in the production of peptide-based drugs, where its structure allows for the incorporation of specific functional groups essential for biological activity. The compound is also utilized in the development of prostaglandin analogs, which are important in treating conditions like glaucoma and gastrointestinal ulcers. Its application extends to research involving lipid metabolism and signaling pathways, where it helps in studying the role of fatty acid derivatives in cellular processes. Additionally, it is employed in the preparation of chiral compounds, aiding in the creation of enantiomerically pure substances for pharmaceutical applications.