Used primarily as an intermediate in the synthesis of pharmaceuticals, particularly in the development of drugs that act on the central nervous system. It serves as a building block for creating active pharmaceutical ingredients due to its reactive chloromethyl group, which allows for easy functionalization. Commonly employed in the preparation of nootropic agents and cognitive enhancers. Also utilized in agrochemical research for developing novel pesticides with improved efficacy and selectivity. Its isoxazole ring contributes to metabolic stability in final compounds, making it valuable in medicinal chemistry.