Used primarily in pharmaceutical research as a derivative of thalidomide, this compound serves as a key intermediate in the development of cereblon E3 ligase modulators. These modulators are part of a class of drugs known as PROTACs (proteolysis-targeting chimeras), which enable targeted protein degradation within cells. Due to its ability to bind cereblon and modify its activity, the compound plays a critical role in designing molecules that can selectively degrade disease-causing proteins, particularly in oncology. It is especially valuable in the synthesis of novel anticancer agents, including those being investigated for the treatment of multiple myeloma, leukemia, and other hematological malignancies. Its propargyl group also allows for further functionalization via click chemistry, facilitating rapid compound optimization in drug discovery.