Used primarily as an intermediate in organic synthesis, this compound plays a key role in the preparation of bioactive molecules and pharmaceuticals. Its hydrazide functional group allows it to participate in condensation reactions, making it valuable for forming hydrazone derivatives, which are often explored for their antimicrobial, anti-inflammatory, and anticancer properties. It is also employed in the development of heterocyclic compounds with potential central nervous system activity. Due to its structure, it serves as a building block in medicinal chemistry for designing new drug candidates, particularly in research focused on kinase inhibitors and neurological agents.