This chemical is primarily utilized in the field of organic synthesis and pharmaceutical research. It serves as a key intermediate in the development of novel compounds with potential therapeutic properties. Researchers often employ it in the synthesis of heterocyclic compounds, which are crucial for creating drugs targeting various diseases, including cancer and inflammatory disorders. Its unique structure allows it to act as a building block for designing molecules that can interact with specific biological targets, such as enzymes or receptors. Additionally, it is studied for its potential use in material science, particularly in the development of organic semiconductors or fluorescent materials due to its conjugated aromatic system. Its application is largely confined to laboratory settings, where it contributes to advancing both medicinal chemistry and material innovation.