Used as an intermediate in pharmaceutical synthesis, particularly in the development of bioactive compounds targeting central nervous system disorders. Its structure supports the design of ligands for neurotransmitter receptors, making it valuable in research on antidepressants and antipsychotics. Also employed in the preparation of fluorescent probes due to the benzo[d]oxazole moiety, which can enhance detection sensitivity in biochemical assays. Commonly utilized in medicinal chemistry for structure-activity relationship (SAR) studies to optimize drug candidates.