This compound is primarily used in organic synthesis as an intermediate for the development of more complex molecules. It serves as a building block in the preparation of pharmaceuticals, particularly in the synthesis of active pharmaceutical ingredients (APIs) that target various diseases. Its structure, featuring both a hydroxymethyl group and a carboxylate ester, makes it versatile for further chemical modifications, such as ester hydrolysis or coupling reactions. Additionally, it finds utility in the research and development of novel compounds in medicinal chemistry, where it contributes to the creation of potential drug candidates with improved efficacy and safety profiles.