Used as an intermediate in the synthesis of pharmaceuticals, particularly in the development of central nervous system (CNS) active agents. Its structure supports the creation of compounds with potential antidepressant and anxiolytic effects. Commonly employed in research settings for designing novel drug candidates due to the presence of reactive functional groups that allow for further chemical modifications. Also utilized in the preparation of chalcone derivatives, which are studied for their biological activities including anti-inflammatory and anticancer properties.