Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of anticoagulant and anti-inflammatory agents. Its structure supports the formation of biologically active molecules due to the presence of a reactive lactone ring and a methoxy group that enhances electron density. Commonly employed in research settings for constructing benzofuran-based compounds with potential therapeutic effects. Also utilized in the preparation of agrochemicals and in the design of organic semiconductors owing to its aromatic and electron-donating characteristics.