This compound is primarily utilized in the development of pharmaceutical intermediates, particularly in the synthesis of biologically active molecules. Its structure makes it valuable for creating compounds with potential therapeutic effects, such as enzyme inhibitors or receptor modulators. It is often employed in medicinal chemistry research to explore new drug candidates, especially in the fields of neurology and oncology. Additionally, it can serve as a building block in organic synthesis, enabling the construction of complex molecules with specific functional groups. Its ester and vinyl components make it versatile for further chemical modifications, aiding in the design of novel compounds with tailored properties.