This chemical is primarily utilized in the pharmaceutical and organic synthesis industries. It serves as a key intermediate in the development of various bioactive compounds, particularly in the synthesis of isoindoline derivatives. These derivatives are often explored for their potential therapeutic applications, including as central nervous system agents or enzyme inhibitors. Additionally, it is used in research settings to study structure-activity relationships in drug design, aiding in the optimization of pharmacological properties. Its hydroxyl and carboxyl functional groups make it a versatile building block for further chemical modifications.