Deoxymikanolide is primarily studied for its anti-inflammatory and anticancer properties. It has shown potential in inhibiting the growth of certain tumor cells by inducing apoptosis and suppressing pathways involved in cell proliferation. Research also indicates it may modulate immune responses, making it a candidate for development in treating chronic inflammatory conditions. Due to its bioactive nature, it is used in preclinical studies to explore new therapeutic agents, particularly in natural product-based drug discovery. Its application remains mostly in the research and development phase, with focus on pharmacology and oncology.