Used as a key intermediate in the synthesis of anticoagulant and anti-inflammatory agents due to its structural similarity to coumarin derivatives. Its hydroxyl and bromo functional groups allow for selective chemical modifications, making it valuable in medicinal chemistry for developing bioactive molecules. Also investigated for its potential in fluorescent probes because of its conjugated system and ability to chelate metal ions. Shows promise in research related to enzyme inhibition, particularly for kinases and oxidoreductases, owing to the dihydroxy substitution pattern that mimics natural substrates.