Used as an intermediate in the synthesis of biologically active compounds, particularly in the development of anticoagulant and anti-inflammatory agents. It serves as a building block for coumarin-based derivatives, which are known for their wide range of pharmacological properties, including anticancer, antimicrobial, and antioxidant activities. Its structure allows for easy functionalization, making it valuable in medicinal chemistry for designing new drug candidates. Also employed in research settings to develop fluorescent probes and sensors due to the inherent photophysical properties of the coumarin scaffold.