This compound is primarily utilized in the field of medicinal chemistry as an intermediate in the synthesis of biologically active molecules. It plays a significant role in the development of pharmaceutical agents, particularly those targeting specific enzymes or receptors in therapeutic pathways. Its structural features make it a valuable building block for creating compounds with potential anti-inflammatory, anticancer, or antiviral properties. Researchers often employ it in drug discovery projects to explore its efficacy in modulating biological targets, contributing to the development of novel treatments for various diseases.