Used primarily in pharmaceutical research and development, this compound serves as a key intermediate in the synthesis of various active pharmaceutical ingredients (APIs). It is particularly valuable in the creation of drugs targeting neurological disorders and certain types of cancers. Its structure allows for further chemical modifications, making it a versatile building block in medicinal chemistry. Additionally, it is employed in the development of diagnostic agents and in the study of biochemical pathways. Its applications extend to organic synthesis, where it is utilized to produce complex molecules for further pharmacological evaluation.