Used as a key intermediate in the synthesis of radiopharmaceuticals, particularly in the preparation of receptor-targeting peptides labeled with technetium-99m for diagnostic imaging. Its thiol group enables strong chelation with metal ions, making it valuable in nuclear medicine for developing imaging agents. Also employed in biochemical research for modifying proteins and peptides through thiol-based conjugation, aiding in the study of molecular structure and function. Additionally, finds use in the development of sensors and functionalized surfaces due to its ability to form self-assembled monolayers on gold and other metals.