Used as a key intermediate in the synthesis of anticoagulant drugs, particularly in the development of novel coumarin-based derivatives. Its structure supports modification for enhanced biological activity, making it valuable in medicinal chemistry for designing compounds with improved pharmacokinetic profiles. Also employed in research settings to study enzyme inhibition, especially targeting serine proteases involved in blood coagulation pathways. Additionally, it serves as a building block in the preparation of fluorescent probes due to the inherent chromophoric properties of the coumarin core, useful in biochemical assays and imaging.