This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting inflammatory and metabolic disorders. Its structure, featuring both carboxylic acid and thiol groups, makes it a versatile building block for designing drugs with enhanced binding affinity and specificity. Additionally, it is explored in the development of chelating agents for metal ions, which can be applied in diagnostic imaging or therapeutic agents for metal overload conditions. Its potential in modifying peptides and proteins to improve their stability and efficacy is also under investigation.