Used as a key intermediate in the synthesis of benzodiazepine derivatives, particularly in the development of central nervous system active agents. Its structure allows for selective modifications that enhance binding to GABA receptors, making it valuable in the preparation of anxiolytic and anticonvulsant drugs. Commonly employed in medicinal chemistry research to explore new therapeutic agents with improved efficacy and reduced side effects. Also utilized in the production of specialty heterocyclic compounds for pharmaceutical screening libraries.