This chemical is primarily utilized in the field of medicinal chemistry and pharmaceutical research. It serves as a key intermediate in the synthesis of various biologically active compounds, particularly those targeting enzyme inhibition or receptor modulation. Its structural features make it a valuable building block for developing potential drug candidates, especially in the design of molecules for treating neurological disorders, inflammation, or metabolic diseases. Researchers also explore its use in creating novel therapeutic agents due to its ability to interact with specific biological targets. Additionally, it may be employed in the development of fluorescent probes or imaging agents for studying cellular processes.