This compound is primarily utilized in the synthesis of various pharmaceuticals, particularly in the development of drugs targeting neurological and cardiovascular conditions. Its structure serves as a key intermediate in the production of compounds that exhibit vasodilatory and neuroprotective properties. Additionally, it is employed in organic synthesis to create complex molecules used in research for studying receptor interactions and enzyme inhibition. Its derivatives are also explored for potential applications in treating inflammatory diseases and as precursors for developing novel therapeutic agents.