This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmaceutical agents. Its structure is particularly valuable in the development of inhibitors targeting specific enzymes, such as kinases, which play a critical role in cellular signaling pathways. Researchers leverage its unique chemical framework to design and optimize drug candidates for treating diseases like cancer, inflammation, and microbial infections. Additionally, its carboxylic acid and hydroxyl groups make it a versatile building block for further chemical modifications, enabling the creation of derivatives with enhanced biological activity and pharmacokinetic properties. Its application extends to research settings where it is used to study structure-activity relationships and to develop novel therapeutic compounds.