Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of bioactive molecules and drug candidates targeting neurological disorders and inflammation. Its structure supports the design of compounds with enhanced binding affinity to specific receptors, making it valuable in medicinal chemistry research. Also employed in the preparation of fluorescent probes for biochemical assays due to its favorable photophysical properties. Additionally, it serves as a building block in the creation of novel heterocyclic compounds for use in agrochemicals and materials science.