PF429242 dihydrochloride is primarily used in research settings to study the regulation of cholesterol and lipid metabolism. It acts as an inhibitor of Site-1 Protease (S1P), an enzyme involved in the activation of sterol regulatory element-binding proteins (SREBPs). By inhibiting S1P, it helps researchers understand the role of SREBPs in controlling genes related to lipid synthesis and uptake. This compound is particularly valuable in exploring pathways associated with metabolic disorders, such as hypercholesterolemia and fatty liver disease. Additionally, it is utilized in drug discovery efforts to identify potential therapeutic targets for conditions linked to dysregulated lipid metabolism.