This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel therapeutic agents. Its structural framework is valuable in the design of molecules targeting neurological disorders, such as schizophrenia and other psychiatric conditions. The compound's unique heterocyclic structure allows it to act as a key intermediate in the production of drugs that modulate neurotransmitter systems, including dopamine and serotonin receptors. Additionally, it is explored for its potential in creating anti-inflammatory and analgesic medications due to its ability to interact with specific biological pathways. Researchers also investigate its role in developing treatments for metabolic disorders and as a building block for more complex bioactive molecules.