Used in pharmaceutical research as a key intermediate for synthesizing bioactive compounds, particularly in the development of agents targeting central nervous system disorders. Shows potential in the design of novel therapeutics due to its ability to cross the blood-brain barrier and interact with neurological receptors. Also employed in the preparation of fluorescent probes for biochemical imaging, leveraging its strong electron-donating properties and stability in aqueous environments. Investigated for anti-inflammatory and neuroprotective activities in preclinical studies.