Used primarily in medical research and diagnostics, this compound is a key intermediate in the synthesis of thyroid hormones and their analogs. It plays a crucial role in studying thyroid function and metabolism, particularly in radioiodine labeling for imaging techniques like SPECT (Single Photon Emission Computed Tomography). Its structure allows it to mimic natural thyroid hormones, making it valuable in investigating hormone-receptor interactions and developing treatments for thyroid disorders. Additionally, it is utilized in biochemical assays to understand iodine metabolism and its impact on endocrine health.