Used primarily as an intermediate in organic synthesis, especially in the development of pharmaceuticals and bioactive compounds. Its fused furo-pyrrole structure makes it valuable for constructing complex heterocyclic systems found in medicinal chemistry. It is often employed in the synthesis of kinase inhibitors and other drug candidates targeting inflammatory and oncological pathways. The ester functionality allows for further derivatization, enabling the introduction of various side chains to modulate solubility, stability, and binding affinity in final active compounds. Also explored in materials science for the development of organic semiconductors due to its electron-rich aromatic framework.