Used as an intermediate in the synthesis of biologically active compounds, particularly in the development of anticoagulant and anti-inflammatory agents. Its chromene core structure is valuable in medicinal chemistry for designing drugs with antioxidant and anticancer properties. Also employed in the preparation of fluorescent dyes and optical brighteners due to its favorable photophysical characteristics. Commonly utilized in research settings for constructing complex heterocyclic systems through derivatization at the hydroxyl and ester functional groups.