Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of central nervous system (CNS) active compounds. Its structure supports the formation of bioactive molecules with potential antipsychotic or anxiolytic properties. Commonly employed in medicinal chemistry for derivatization reactions, especially in the preparation of substituted isoxazoles that serve as pharmacophores. Also utilized in research settings to design enzyme inhibitors and receptor ligands due to its favorable reactivity and stability profile.