Used as an intermediate in the synthesis of heterocyclic compounds, particularly in the preparation of pyrazole and oxadiazole derivatives which exhibit biological activity such as antimicrobial, anti-inflammatory, and anticancer properties. It serves as a key building block in pharmaceutical research for developing new drug candidates. Also employed in the formulation of coordination compounds with metal ions, useful in catalysis and material science. Its hydrazide functionality allows for easy derivatization, making it valuable in combinatorial chemistry and medicinal chemistry workflows.