This compound is primarily utilized in the field of pharmaceutical research and development. It serves as a key intermediate in the synthesis of various biologically active molecules, particularly those targeting neurological and inflammatory disorders. Its structure is often explored for its potential in creating novel therapeutic agents that interact with specific receptors in the central nervous system. Additionally, it is investigated for its role in modulating enzyme activity, which can be crucial in the development of drugs for treating conditions like anxiety, depression, and chronic pain. Researchers also study its derivatives for their potential anti-cancer properties, focusing on their ability to inhibit cell proliferation or induce apoptosis in cancer cells.