This compound is primarily utilized in pharmaceutical research and development as a key intermediate in the synthesis of various biologically active molecules. It serves as a building block for creating compounds that target specific enzymes or receptors, particularly in the development of potential therapeutic agents. Its structural features make it valuable in designing inhibitors for kinases, which are crucial in regulating cellular processes and signaling pathways. Additionally, it is explored in the synthesis of heterocyclic compounds that may exhibit anti-inflammatory, anticancer, or antimicrobial properties. Its ethyl ester group enhances its reactivity and solubility, facilitating its use in organic synthesis and medicinal chemistry applications.