This compound is primarily utilized in biochemical research, particularly in studies related to enzyme activity and lipid metabolism. It serves as a substrate for detecting and measuring the activity of specific enzymes, such as β-glucosidases, which play a role in breaking down glycosidic bonds. The thioester linkage in the molecule makes it a valuable tool for investigating lipase and esterase activity, as these enzymes can cleave the bond, releasing a detectable fluorescent product. Its application extends to lipid metabolism studies, where it helps in understanding the role of enzymes in lipid processing and degradation pathways. Additionally, it is used in fluorescence-based assays to monitor enzymatic reactions in real-time, providing insights into enzyme kinetics and mechanisms.