This compound is primarily utilized in the field of medicinal chemistry and drug development. It serves as a key intermediate in the synthesis of targeted therapeutic agents, particularly those designed to inhibit specific enzymes or receptors involved in disease pathways. Its structural features make it a valuable scaffold for designing molecules with potential anticancer or anti-inflammatory properties. Researchers often explore its derivatives to optimize pharmacokinetic properties, such as bioavailability and metabolic stability, to enhance their efficacy as drug candidates. Additionally, it may be used in biochemical assays to study molecular interactions and mechanisms of action in cellular models.