Used in pharmaceutical research as a key intermediate for developing bioactive molecules, particularly in the synthesis of receptor agonists and enzyme inhibitors. Shows potential in central nervous system drug discovery due to its structural similarity to known neuroactive compounds. Also employed in the development of fluorescent probes for biochemical assays, leveraging its ability to interact with biomolecules through hydrogen bonding and π-π stacking. Investigated for antimicrobial and antiparasitic applications in medicinal chemistry projects.