This compound is primarily utilized in pharmaceutical research and development as a key intermediate in the synthesis of various biologically active molecules. Its structure is particularly valuable in the creation of compounds with potential therapeutic applications, such as anti-inflammatory, antiviral, and anticancer agents. Additionally, it serves as a building block in medicinal chemistry for designing and optimizing drug candidates, especially those targeting specific enzyme pathways or receptors. Its versatility in chemical reactions makes it a valuable tool for exploring novel drug discovery strategies.