This compound is primarily utilized in the synthesis of pharmaceutical intermediates, particularly in the development of compounds with potential therapeutic effects. It serves as a key building block in the creation of molecules that target neurological disorders, such as epilepsy and Parkinson's disease, due to its structural similarity to biologically active thiophene derivatives. Additionally, it is employed in organic chemistry research for the preparation of heterocyclic compounds, which are explored for their antimicrobial and anti-inflammatory properties. Its ester functional group also makes it a versatile reagent in medicinal chemistry for further derivatization and optimization of drug candidates.