Used as a key intermediate in the synthesis of biologically active compounds, particularly in the development of pharmaceuticals targeting central nervous system disorders. Its structure allows for derivatization to enhance binding affinity with specific receptors, making it valuable in creating potential anxiolytic and anticonvulsant agents. Also employed in research for novel heterocyclic compounds with possible antiviral or anticancer properties. Solubility and hydrogen bonding capacity support formulation in drug delivery systems.