Used in the synthesis of pharmaceutical agents, particularly as a building block for kinase inhibitors in cancer therapy. It plays a role in the development of targeted drugs that interfere with specific signaling pathways in tumor cells. Its structure supports modification for enhanced binding to biological targets, making it valuable in medicinal chemistry for designing drugs with improved selectivity and potency. Also investigated for use in anti-inflammatory and antimicrobial compounds due to its ability to interact with various enzyme systems.