Used in the synthesis of pharmaceutical intermediates, particularly in the development of central nervous system agents. It serves as a building block in the preparation of bioactive molecules due to the presence of both carboxylic acid and ether functionalities, allowing for further chemical modifications. Commonly employed in research settings for the development of potential neuroprotective or anti-inflammatory compounds. Its benzyl-protected hydroxyl group enables selective deprotection, making it valuable in multi-step organic syntheses.