Used in research and development of targeted cancer therapies, particularly in acute myeloid leukemia (AML) and blastic plasmacytoid dendritic cell neoplasm (BPDCN), where CD123 is overexpressed. Serves as a critical reagent in immunoassays and binding studies to evaluate therapeutic antibodies and CAR-T cell constructs. Supports the development of diagnostic tools and imaging agents due to its specific binding to IL-3 receptor alpha. Enables protein-protein interaction studies when fused with Fc tag, facilitating detection and purification in experimental setups.