Used as an intermediate in the synthesis of pharmaceuticals and bioactive compounds, particularly in the development of anticoagulants and anti-inflammatory agents. It also serves as a building block in the preparation of fluorescent dyes and optical brighteners due to its conjugated structure that supports light absorption and emission. Additionally, it has been investigated for its potential antimicrobial and anticancer properties in research settings. Its reactivity allows for functionalization at multiple sites, making it valuable in medicinal chemistry and materials science.