Used as a key intermediate in organic synthesis, particularly in the preparation of hydrazine-based pharmaceuticals and agrochemicals. It serves as a protecting group reagent for hydrazine moieties due to the stability provided by the ester groups. Commonly employed in the synthesis of heterocyclic compounds, including triazoles and pyrazoles, which are important scaffolds in drug discovery. Its reactivity allows for selective transformations in multi-step synthetic routes, making it valuable in research and development of bioactive molecules.