Used in pharmaceutical research as a key intermediate in the synthesis of selective enzyme inhibitors, particularly in the development of anti-inflammatory and anticancer agents. Its structure supports binding to specific protein targets involved in cellular signaling pathways. Commonly employed in structure-activity relationship (SAR) studies to optimize drug candidates due to its ability to enhance metabolic stability and target affinity. Also utilized in the preparation of fluorescent probes for biochemical assays, leveraging its conjugated aromatic system for detection and imaging applications.