Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of central nervous system (CNS) active compounds. It serves as a building block for heterocyclic structures found in anxiolytic and anticonvulsant drugs. Its scaffold is valuable in medicinal chemistry for designing molecules with improved bioavailability and receptor selectivity. Also employed in research settings to explore new bioactive molecules and in the preparation of fluorescent probes due to its favorable ring structure and functional group reactivity.