A bispecific compound, comprising a moiety that binds cyclin-dependent kinase 7 and a Degron covalently attached to each other by a Linker, wherein the compound has a structure represented by formula: or a pharmaceutically acceptable salt or stereoisomer thereof, wherein R 1 represents -NR 3 R h,, wherein each of R a and R b is independently hydrogen, optionally substituted alkyl, optionally substituted alkenyl, optionally substituted alkynyl, optionally substituted carbocyclyl, optionally substituted heterocyclyl, optionally substituted aryl, optionally substituted heteroaryl, a nitrogen protecting group when attached to a nitrogen atom, or an oxygen protecting group when attached to an oxygen atom, or R a and R b together with the atoms to which they are bound form an optionally substituted carbocyclic, optionally substituted heterocyclic, optionally substituted aryl, or optionally substituted heteroaryl ring; each of R 3 and R 4 represents C 1 -C 6 alkyl; R 5 independently represents hydrogen, optionally substituted C 1 -C 6 alkyl, or a nitrogen protecting group; L 1 represents NH or -NHC -; A represents optionally substituted carbocyclyl, optionally substituted heterocyclyl, optionally substituted aryl, or optionally substituted heteroaryl; L 2 represents a bond or absent, -C(=O)-, -C(=O)NR L2 -, -NR L2 C(=O)-, -O-, or -S-, wherein R L2 is hydrogen, optionally substituted C 1 -C 6 alkyl, or a nitrogen protecting group; B represents a bond or absent, optionally substituted carbocyclyl, optionally substituted heterocyclyl, optionally substituted aryl, or optionally substituted heteroaryl; and R 2 is absent; wherein the linker is an alkylene chain or polyethylene glycol chain, either of which may be interrupted by, and/or terminate (at either or both termini) at least one of -O-, -S-, -N(R')-, - C≡C-, -C -, -C O-, -OC -, -OC O-, -C(NOR')-, -C N(R')-, -C N(R')C -, - C N(R')C N(R')-, -N(R')C -, -N(R')C N(R')-, -N(R')C O-, -OC N(R')-, - C(NR')-, -N(R')C(NR')-, -C(NR')N(R')-, -N(R')C(NR')N(R')-, -OB(Me)O-, -S 2 -, -OS -, -S O-, -S -, -OS 2 -, -S 2 O-, -N(R')S 2 -, -S 2 N(R')-, -N(R')S -, - S N(R')-, -N(R')S 2 N(R')-, -N(R')S N(R')-, C 3 -C 12 carbocyclene, 3- to 12-membered heterocyclene, 5- to 12-membered heteroarylene or any combination thereof, wherein R' is H or C 1 -C 6 alkyl, wherein the interrupting and the one or both terminating groups may be the same or different; and wherein the degron binds an E3 ubiquitin ligase and is represented by any one of structures (D1-a) to (D1-h) and (D2-a) to (D2-e): wherein Y' is a bond, N, O or C; wherein Z is a C 5 -C 6 carbocyclic or C 5 -C 6 heterocyclic group; and R 1 represents -NR 3 R h,, wherein each of R a and R b is independently hydrogen, optionally substituted alkyl, optionally substituted alkenyl, optionally substituted alkynyl, optionally substituted carbocyclyl, optionally substituted heterocyclyl, optionally substituted aryl, optionally substituted heteroaryl, a nitrogen protecting group when attached to a nitrogen atom, or an oxygen protecting group when attached to an oxygen atom, or R a and R b together with the atoms to which they are bound form an optionally substituted carbocyclic, optionally substituted heterocyclic, optionally substituted aryl, or optionally substituted heteroaryl ring; each of R 3 and R 4 represents C 1 -C 6 alkyl; R 5 independently represents hydrogen, optionally substituted C 1 -C 6 alkyl, or a nitrogen protecting group; L 1 represents NH or -NHC -; A represents optionally substituted carbocyclyl, optionally substituted heterocyclyl, optionally substituted aryl, or optionally substituted heteroaryl; L 2 represents a bond or absent, -C(=O)-, -C(=O)NR L2 -, -NR L2 C(=O)-, -O-, or -S-, wherein R L2 is hydrogen, optionally substituted C 1 -C 6 alkyl, or a nitrogen protecting group; B represents a bond or absent, optionally substituted carbocyclyl, optionally substituted heterocyclyl, optionally substituted aryl, or optionally substituted heteroaryl; and R 2 is absent; wherein the linker is an alkylene chain or polyethylene glycol chain, either of which may be interrupted by, and/or terminate (at either or both termini) at least one of -O-, -S-, -N(R')-, - C≡C-, -C -, -C O-, -OC -, -OC O-, -C(NOR')-, -C N(R')-, -C N(R')C -, - C N(R')C N(R')-, -N(R')C -, -N(R')C N(R')-, -N(R')C O-, -OC N(R')-, - C(NR')-, -N(R')C(NR')-, -C(NR')N(R')-, -N(R')C(NR')N(R')-, -OB(Me)O-, -S 2 -, -OS -, -S O-, -S -, -OS 2 -, -S 2 O-, -N(R')S 2 -, -S 2 N(R')-, -N(R')S -, - S N(R')-, -N(R')S 2 N(R')-, -N(R')S N(R')-, C 3 -C 12 carbocyclene, 3- to 12-membered heterocyclene, 5- to 12-membered heteroarylene or any combination thereof, wherein R' is H or C 1 -C 6 alkyl, wherein the interrupting and the one or both terminating groups may be the same or different; and wherein the degron binds an E3 ubiquitin ligase and is represented by any one of structures (D1-a) to (D1-h) and (D2-a) to (D2-e): wherein Y' is a bond, N, O or C; wherein Z is a C 5 -C 6 carbocyclic or C 5 -C 6 heterocyclic group; and