Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of nicotinic receptor modulators. Its structure supports the creation of biologically active compounds targeting neurological disorders such as Alzheimer's and schizophrenia. Commonly employed in medicinal chemistry for derivatization to enhance binding affinity and selectivity in drug candidates. Also utilized in the preparation of heterocyclic compounds due to its conjugated system and functional group compatibility in coupling reactions.