Used as a key intermediate in the synthesis of pharmaceutical compounds, particularly in the development of biologically active molecules. Its structure allows for selective functionalization at the azetidine ring, making it valuable in medicinal chemistry for constructing constrained ring systems that improve metabolic stability and binding affinity. Commonly employed in cross-coupling reactions due to the presence of the iodine atom, enabling carbon–carbon bond formation. Also utilized in the preparation of protease inhibitors and receptor modulators, where the tert-butyl carbamate (Boc) group provides protection during multi-step syntheses.