Used in organic synthesis as an intermediate for pharmaceuticals, particularly in the development of vasodilatory and cardioprotective agents. Its hydroxyacetimidamide structure supports metal chelation and radical scavenging, making it valuable in designing antioxidants. Also employed in research related to nitric oxide pathways due to its ability to mimic or modulate NO release. Investigated for potential use in treating ischemic conditions and neurodegenerative disorders.