H. peckii produces a number of secondary metabolites that are potentially valuable medicinal compounds. One such metabolite is atromentin which is known to have anticoagulant properties similar to those of the widely used pharmaceutical heparin.  Like heparin,  atromentin was only effective when administered intravenously   instead of orally; however, unlike heparin, the anticoagulant activity of atromentin was not neutralized with a protamine injection.  Another property that sets atromentin apart from heparin is its tendency to illicit restriction of blood vessels in smooth muscle tissue (Khanna et al.,1965). Atromentin has also been shown to have antibacterial properties by aiding the inhibition of the enzyme enoyl-ACP-reductase that many bacteria such as Streptococcus pneumoniae use to synthesize lipids vital to their survival (Zheng,2006).

Another medically beneficial chemical H. peckii produces is thelephoric acid. Thelephoric acid has been found to inhibit prolyl endopeptidase (PEP), an enzyme which plays a role in deteriorating certain neuropeptides that are believed to contribute to memory and learning. It has been shown that Alzheimer's patients have a considerably higher PEP activity than normal individuals. Moreover, research has shown that PEP may be involved in processing a component of the amyloid beta protein that forms extracellular plaques in the brain associated with Alzheimer's disease (Kwak, 1999). Amyloid beta proteins amass outside neurons and seem to induce the death of neighboring cells (Campbell et al.,2008). The photograph below is a microscopic view of the cerebral cortex of an Alzheimer's patient and the pale pinkish mass in the the center is an amyloid plaque that  PEP likely helps produce. Given that thelephoric acid is a known PEP inhibiter with potential to aid the fight against Alzheimer's disease, and H.peckii is a known source of thelephoric acid,  it follows that H. peckii could be an important ally in the future of Alzheimer's treatment and prevention.

Apart from medicine for physical conditions, one may find therapeutic value in the art of mushroom dyeing.