Used in pharmaceutical research as a building block for the synthesis of various bioactive compounds. It serves as a key intermediate in the development of drugs targeting neurological disorders, including Alzheimer's disease and other cognitive impairments. Its structure allows for modifications to enhance binding affinity to specific receptors, making it valuable in the design of enzyme inhibitors and receptor modulators. Additionally, it is explored in the creation of potential anticancer agents due to its ability to interact with cellular pathways involved in tumor growth. Its versatility in medicinal chemistry makes it a significant component in drug discovery and development.