This compound is primarily utilized in the development of advanced pharmaceutical formulations due to its unique structural properties. Its ability to form stable complexes with various bioactive molecules makes it a valuable component in drug delivery systems, enhancing the solubility and bioavailability of poorly water-soluble drugs. Additionally, it is employed in the synthesis of novel therapeutic agents targeting specific enzymatic pathways, particularly in the treatment of inflammatory and neurodegenerative disorders. Its application extends to the field of biomedical research, where it serves as a key intermediate in the creation of compounds for studying molecular interactions and cellular processes.