This chemical is primarily utilized in the pharmaceutical and biotechnology industries as a key intermediate in the synthesis of various biologically active compounds. It serves as a building block in the development of drugs targeting specific diseases, particularly in the creation of small molecule inhibitors and modulators. Its structure is often incorporated into compounds designed to interact with enzymes, receptors, or other proteins involved in disease pathways. Additionally, it has been explored in research for its potential use in developing treatments for conditions such as cancer, inflammation, and viral infections. Its versatility in chemical reactions makes it a valuable component in medicinal chemistry and drug discovery efforts.