This compound is primarily utilized in the synthesis of various pharmaceuticals and agrochemicals due to its versatile isoxazole ring structure. It serves as a key intermediate in the development of compounds with potential biological activities, such as antimicrobial, antifungal, and anti-inflammatory agents. Additionally, it is employed in organic synthesis for constructing complex molecules, particularly in the field of medicinal chemistry, where it aids in the creation of drug candidates targeting specific diseases. Its ester functionality also makes it a valuable building block for further chemical modifications.