Used as a key intermediate in the synthesis of anticoagulant pharmaceuticals, particularly in the production of coumarin-based derivatives that exhibit blood-thinning properties. Its structural features allow for effective modulation of biological activity in drug development. Also employed in research settings for studying enzyme inhibition, especially in relation to vitamin K epoxide reductase, which plays a critical role in blood clotting. 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 imaging and assay technologies.