Used as a synthetic phospholipid in the formulation of liposomes for drug delivery, particularly in pulmonary surfactant research and replacement therapies. It serves as a model compound in biophysical studies of membrane structure due to its well-defined acyl chain composition. Commonly employed in the development of pulmonary drug delivery systems because it mimics the surface-active properties of natural lung surfactants. Also utilized in the study of lipid-protein interactions and membrane phase behavior in artificial membranes.