Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of antimalarial and anticancer agents. Its structure supports the creation of compounds that inhibit specific enzymes involved in disease progression. Commonly utilized in research settings for designing kinase inhibitors and other bioactive molecules. Also serves in the preparation of fluorescent dyes and sensors due to its favorable photophysical properties. Its derivatives are explored for antimicrobial and anti-inflammatory applications in medicinal chemistry.