This compound is primarily utilized in pharmaceutical research and development, particularly in the synthesis of novel drug candidates. Its structure makes it a valuable intermediate in the creation of molecules that target specific biological pathways, such as those involved in inflammation or cancer. Researchers often modify its core structure to enhance binding affinity or selectivity for particular receptors or enzymes. Additionally, it is employed in medicinal chemistry to explore structure-activity relationships, aiding in the optimization of lead compounds for therapeutic applications. Its unique chemical properties also make it a useful building block in the design of heterocyclic compounds, which are prevalent in many biologically active molecules.