Used in the synthesis of chiral hydrazones and heterocyclic compounds, this compound serves as a key intermediate in pharmaceutical chemistry, particularly in the development of bioactive molecules and asymmetric synthesis. Its chiral hydroxy hydrazide structure enables selective reactions useful in creating enantiomerically pure drugs. It is also employed in the preparation of enzyme inhibitors and ligands for metal-catalyzed reactions, where stereochemistry plays a critical role in activity and selectivity.