This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. Its structure is particularly valuable in the development of compounds with potential therapeutic effects, such as anti-inflammatory, antiviral, and anticancer properties. Researchers often explore its derivatives to design and optimize drugs that target specific biological pathways. Additionally, it serves as a building block in organic synthesis, enabling the creation of complex molecules for further pharmacological evaluation. Its role in drug discovery underscores its significance in advancing new treatments for various diseases.