Used in research for its potential antiparasitic and antiviral properties, particularly against protozoan parasites like those causing tropical diseases such as leishmaniasis and trypanosomiasis, making it a candidate for drug development in parasitology.

Also exhibits anti-inflammatory effects through inhibition of enzymes like cyclooxygenase (COX) and lipoxygenase (LOX), contributing to studies on metabolic pathways, signal transduction, and oxidative stress.

Investigated for neuroprotective properties, including inhibition of abnormal neuronal cell proliferation, with interest in neurodegenerative diseases like Alzheimer's and Parkinson's.

Its fluorescence properties are utilized in biochemical assays for tracking and imaging in cellular systems. Additionally, serves as a standard in analytical techniques such as HPLC and mass spectrometry due to its distinct structure and detectability.

Currently limited to laboratory research and not approved for general medical use.