Used in pharmaceutical research as a chiral building block for the synthesis of various biologically active compounds. It plays a key role in the development of enantiomerically pure drugs, particularly in the creation of central nervous system (CNS) agents and receptor-specific molecules. The compound is also employed in asymmetric synthesis to introduce chirality into target molecules, enhancing their efficacy and reducing side effects. Additionally, it serves as a precursor in the preparation of radiopharmaceuticals for diagnostic imaging, leveraging its iodine moiety for labeling purposes.