This compound is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as an intermediate in the synthesis of various bioactive molecules, particularly those targeting metabolic and inflammatory pathways. Its structure, featuring both hydroxyl and amide functional groups, makes it a versatile building block for developing drugs with potential antioxidant and anti-inflammatory properties. Researchers also explore its application in designing prodrugs, where its hydroxyl groups can be modified to enhance drug delivery and bioavailability. Additionally, it has been studied for its role in creating compounds that may influence cellular signaling and enzyme activity, contributing to advancements in treating chronic diseases.