Primarily used in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the development of potential therapeutic agents, including inhibitors for specific enzymes or receptors. Its structural framework is often incorporated into compounds being studied for their anti-inflammatory, anticancer, or antimicrobial properties. Additionally, it finds utility in organic synthesis for constructing complex heterocyclic compounds, which are essential in drug discovery and development processes.