This compound is primarily utilized in the field of medicinal chemistry due to its potential biological activities. It is studied for its anti-inflammatory and anticancer properties, making it a candidate for the development of therapeutic agents. Researchers are particularly interested in its ability to inhibit specific enzymes or pathways involved in inflammation and cancer progression. Additionally, it is explored for its antioxidant effects, which could be beneficial in protecting cells from oxidative stress. Its structural features make it a valuable scaffold for the synthesis of more potent and selective derivatives in drug discovery efforts.