Used in organic synthesis as a key intermediate for the preparation of various pharmacologically active compounds. It plays a significant role in the development of heterocyclic compounds, which are often explored for their potential therapeutic properties. The compound is particularly valuable in the synthesis of hydrazine derivatives, which are studied for their applications in medicinal chemistry, including the design of drugs targeting central nervous system disorders. Additionally, it serves as a building block in the creation of novel chemical entities for research in drug discovery and development.