N-(3-hydroxyphenyl)-Arachidonoyl amide (3-HPAA) is primarily studied for its potential role in modulating the endocannabinoid system, particularly due to its structural similarity to endocannabinoids. Research suggests it may interact with cannabinoid receptors, influencing pain perception, inflammation, and neurological functions. Its applications are being explored in the development of therapeutic agents for conditions like chronic pain, neurodegenerative diseases, and inflammatory disorders. Additionally, 3-HPAA is of interest in pharmacological studies aiming to understand its mechanisms and potential as a lead compound for drug discovery.